​Daily Bulletin: Tuesday Nov. 25

Big put flow was seen on XLE, as investors look to,“Pick the bottom” of oil prices ahead of Thursday’s OPEC meeting. The put flow comes as a number of investors look to position themselves for the end of 2014, while hedge funds also dip their toes into some leveraged options in a bid to squeeze out some upside before the holiday season. In the U.S. Citi is looking to add some sales staff to its equity derivatives flow desk next year. We also delve into the first day of trading of Futures on the JPX-Nikkei 400 today. More than 70,000 units saw execution, the third highest figure for new listed product volume on the Osaka Exchange after the Nikkei 225 mini and Nikkei 225 options. Strategists expect volume and interest in the new benchmark to increase further from institutional investors wanting exposure to companies with strong corporate governance, as well as from hedge funds exploring arbitrage strategies.