​Daily Bulletin: Monday Dec. 1

U.K. hedge funds have been buying puts and put spreads on the OBX, as well as puts on single stocks in Norway and Denmark that have exposure to the oil industry following the OPEC meeting last week. Those funds, however, have been at the same time adding to their upside positions in Sweden’s OMX Stockholm 30 index due to current steep skew levels in the underlying. Meanwhile in the US, some fund managers are choosing plain vanilla put strategies to protect equity positions over VIX-related trades, as they’re generally cheaper and more transparent. The Russell 2000 also saw decent short-dated put option flow today with over 80,000 contracts targeting 1070 and 1050.