The Yuan to Move Lower?

Some traders are betting that the Yuan will make a move lower over the next five months by buying puts on the WisdomTree Chinese Yuan Trust ETF (NYSE: CYB) today. 2,000 of the October $25 puts were purchased on the offer for $0.45 a short while ago; volume exceeded the open interest of 1,941 contracts. This trade pushed put volume to 28.02x the daily average.

The WisdomTree Chinese Yuan Trust ETF is currently trading $25.05, up 0.12% during the morning trade. The ETF seeks to achieve total returns reflective of both money market rates in China available to foreign investors and changes in value of the Chinese Yuan relative to the U.S. dollar.