$KRE drift to $40 by Oct Exp
The
KRE
has performed remarkably well since the lows in May. But mounting issues with rates and the Fed not showing signs of dropping rates will continue to prove the index needs to go lower. Options data suggests strong Put pressure into the end of the month at $42 where lower strike prices open by Oct expiration at $40 with strong open interest. If rates stay high, this index will go lower.
KRE
has performed remarkably well since the lows in May. But mounting issues with rates and the Fed not showing signs of dropping rates will continue to prove the index needs to go lower. Options data suggests strong Put pressure into the end of the month at $42 where lower strike prices open by Oct expiration at $40 with strong open interest. If rates stay high, this index will go lower.
עסקה סגורה: היעד הושג:
Target reached here at $40. Very bearish outlook but surprisingly, the put support hasn't moved much lower on the the KRE in the short term. $38 by November.