TLT's Bond Breakdown and Options Trading

The TLT long-term treasury ETF dropping more than two percent and options traders are among the most bearish they have been in years on bonds. One of the bigger trades we saw today was a purchase of twenty four hundred of the October ninety four puts by are spending about two dollars and seventy eight cents or just under six hundred and seventy thousand dollars in premium betting that the volatility potentially to the downside could continue. That's the first time we've ever used that on fast money.