60k Puts bought on HYG

by Particular-Wedding

Big bet against junk bonds with -.02 delta. A trader is betting that we will be seeing chaos in the fixed income/credit markets in under a month. Cheap hedge or just a speculative bet? I am guessing a bit of both. The strike targets a range just above the March 2020 lows.

For reference HYG hit 67.52 at a low in March

 

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