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<p>[QUOTE=&quot;Brett_in_Sacto, post: 2414563, member: 71510&quot;]According to the news, someone just put a $5.6mil bet on seeing a 35% drop in Metals and Mining on the S&amp;P.</p><p><br /></p><p>Based on the jobs report, the fear of the election and general unrest - I&#039;m betting he&#039;s wrong.&nbsp; Of course I&#039;m not putting $5mil in to back my bet - I&#039;m just sticking to my plan.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p><a href="http://finance.yahoo.com/news/trader-bets-5-6-million-162125575.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://finance.yahoo.com/news/trader-bets-5-6-million-162125575.html" rel="nofollow">http://finance.yahoo.com/news/trader-bets-5-6-million-162125575.html</a></p><p><br /></p><p>In a sizable trade on Thursday, someone bet more than $5 million on a nearly 35 percent decline in the S&amp;P Metals and Mining ETF, the XME <b>(NYSE Arca: XME)</b>. In the specific wager, the trader bought more than 50,000 of the September 20/15 put spreads for $1.12 each. Since each put option accounts for 100 shares of stock, this is a $5.6 million bet that the ETF will fall as low as $15 by September. The ETF is currently trading around $23.[/QUOTE]</p><p><br /></p>

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