The Select Sector Energy Fund (XLE) is seeing two times its normal trading volume, with heavy trading in the XLE June 80 and June 82 put options. Trading is defensive as the fund, which holds all of the energy-related names from the S&P 500, stumbles $1.64 to $82.28. The decline is in reaction to a substantial drop in crude oil today. Crude recently traded down $3.60 to $114.70 a barrel.
Category: All ETFs
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.