​Sizeable SX7E Put Ladder Roll Seen As Sentiment Wanes Further In E.U. Banks

One investor rolled a sizeable put ladder structure on the Eurostoxx Banks (SX7E) in Dec-16 out to Jun-17 on Tuesday as other investors tapped puts out to Dec-17 in the index amid growing concern on the sector. The flow comes days before the publication of E.U. stress test results, while an agreement between the Italian government and European Commission for a government backstop to support Italian banks has yet to be fleshed out.