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Some big bets in SPY ahead of FOMC meeting today. SPY APR5 197P sweeper:
So far 36K traded vs no open interest indicating new position being established:
by sweep do you mean a position sold over multiple exchanges?
next; how did you detect that? its not obvious to me on the pictures unless its the timestamp?
finally, why does no open interest indicate a new position being built. If i write a load of puts doesnt the open interest increase? as opose to when i buy to close @ say 50% which would increase volume?
These puts look like they were bought as price was at or above the asking price. So if open interest was 186 contracts and 30K traded on the ask that looks like new position being opened (open interest doesnt have enough outstanding contracts to cover, if this was a closing transaction). This trade was picked up from twitter and big trades like this could be a lot of things so plz take it lightly.
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