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Bears look for drop in Treasury ETF

Chris McKhann (chris.mckhann@optionmonster.com)

A short-term bearish position leads today's activity in the iShares 20+ Year Treasury Bond Fund.

Topping the volume is the July 108.50 puts that expire at the end of this week, optionMONSTER systems show. A trader bought a block of 2,431 of those puts for $0.45 in volume that was almost twice the open interest at that strike, indicating that this is a new position.

Those puts are in the money and have only one session to trade before they expire, so this is clearly a very near-term bet that the fund will drop. (See our Education section)

The TLT is down 0.56 percent to $108.25 this morning. The exchange-traded fund is climbing off a two-year lowof $106.17 set two weeks ago. It was at a high of $132.22 a year ago.

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