Smart money activity in the past 24 hours that is out of the ordinary. It includes stock options bought on the ask or sold on the bid with unusual size and daily volume compared to open interest.
The investment seeks to provide investment results that correspond generally to the price and yield performance of the Bloomberg Barclays High Yield Very Liquid Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to measure the performance of publicly issued U.S. dollar denominated high yield corporate bonds with above-average liquidity. The fund is non-diversified.
Put trades that are bought on or above the market's asking price OR call trades that are sold on or less than the market's bid price - expecting a move to the downside.