Those three banks combine for over 21% of GREK’s weight. At 37% of GREK’s weight, financial services was ETF’s largest sector allocation at the end of the third quarter, according to Global X data.
Recent options market activity foretold another big decline for GREK. In the first two weeks of January, daily put activity on GREK while those bearish options “on the Greece ETF have been unusually active with average daily volume since Dec. 29 of about 3,200 contracts, about three times the average daily volume over the last 200 days,” reports Reuters.
ETF Trends reported on Jan. 15 that open interest in the GREK February $12 strike puts was surging. Those contracts are now well in the money with GREK, the lone Greece ETF, trading under $10.70 at this writing. [Traders See More Declines for Greece ETF]
Global X FTSE Greece 20 ETF
ETF Trends editorial team contributed to this post.