Here’s A Way To Cheaply Protect Against A Market Downturn

Hedging against downside protection can be expensive. Using options can alleviate some of the cost by utilizing a spread trade, such as a butterfly.  A trader recently placed a large put butterfly on for August in SPDR S&P ETF (SPY) options.  The trade only cost 20 cents in premium but could pay out significantly more if the market drops near 52-week lows over the next few weeks. 

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