© Reuters. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. REUTERS/Brendan McDermid/File Photo
By Saqib Iqbal Ahmed and Laura Matthews
NEW YORK (Reuters) – Options volume on SPDR S&P Regional Banking (NYSE:) ETF surged for a second straight session on Thursday, spurred by bearish trading, as a sell-off in shares of U.S. regional banks continued after trouble at New York Community Bancorp (NYSE:).
KRE shares fell 2% on Thursday while NYCB slipped 8%, extending its losses from Wednesday when the stock experienced a record single-day drop of 37.6% after announcing a surprise loss and a 70% divided cut.
KRE options volume jumped to 490,000 contracts, by 1 p.m. (1800 GMT) with contracts changing hands at seven times the usual pace, according to Trade Alert data. Put options, typically bought to express a bearish or…
