Puts Purchased on the EFA

Shares of the ISHARES MSCI EAFE INDEX (NYSE: EFA) are lower on the session by 3.15% to $49.83 on the heels of a worldwide market sell off. The ETF is now significantly in bearish territory given that it is below both the 50-day and 200-day moving averages. The ETF is now approaching its “flash crash” lows as well.

I am detecting bearish activity in the puts as well. The September $50 put was purchased over 7,000 times and the Sept $51 put was purchased nearly 13,000 times.

The ISHARES MSCI EAFE INDEX seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE index.