Reflation ETF Call Options Active on ISE: TBT, SLV, USO, UNG, MOS

Reflation ETFs had the most customer call options/puts opened today on the ISE (International Securities Exchange). The ISE widget on the right column shows the most actives from the ISE Put/Call Ratio. The ISEE ratio is actually measured by Calls/Puts (opened) * 100. Today the reflation squadron topped the list (QE2?). In words:

  • $TBT (UltraShort 20+ Year Treasury ProShares) had 11,032 customer call options opened versus 325 put options, netting an ISEE ratio of 3,394.
  • $UNG (United States Natural Gas Fund) had 6,252 customer calls opened versus 256 puts, netting an ISEE ratio of 2,442.
  • $SLV (iShares Silver ETF) had 10,286 customer calls opened versus 557 puts, netting an ISEE of 1,847
  • $MOS (Mosaic Company) had 4,018 customer calls opened versus 227 puts, netting an ISEE of 1,770 (related to BHPs Potash bid)
  • $USO (United States Oil Fund) had 5,413 customer calls opened versus 399 puts, netting an ISEE of 1,357.

I'm watching the recent highs on all commodity ETFs, CRB Index, US Dollar and Treasuries. Charts coming soon. I could see reflation trade part 2 if there's a chronic deflation correction and SPY/USD rallies above the 200 day moving average. Also, $PST, the UltraShort 7-10 Year Treasury ETF, was in play. It looks like 1,000 PST September 42 calls traded at 0.25 (-0.85) with 10 contracts open. PST closed at 40.51. I don't know if they were bought or sold-to-open but interesting move there.

ISE Put/Call Widget for 8/17