Along with the put buying in TLT we have pointed out, call buyers were also present yesterday in TBT (ProShares UltraShort 20+ Year Treasury Bond), which reflects similar sentiments of those of the TLT put buyers.
TMV (Direxion Daily 20 Year Plus Treasury Bear 3X) is yet another leveraged “bear” play on long Treasuries. It remains to be seen how this plays out, as we have reported similar options activity for months on end now, and it has not exactly panned out for bond bears yet.
iShares Barclays 20+ Year Treasury Bond
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