The Select Sector Energy Fund (XLE) is seeing double normal trading volume, as players react to the ongoing slide in crude oil prices. Crude is trading down 41 cents to $109.30. Although it is well off its worst levels of the week ($105.50), it is has failed to take back any of yesterday’s 5 percent decline. Consequently, shares of energy related companies remain under pressure and the Select Sector Energy Fund is down 92 cents to $69.63. XLE, which holds all of the energy-related names from the S&P 500, is now in danger of closing below its six month closing low of $69.90 from mid August. Trading in the options market clearly reflects the concerns about the outlook for the energy sector as well, with 174,000 XLE puts and 106,000 calls trading on the day. The December 70, September 70, and October 67 puts are among the most actives, as some investors brace for further fallout in the sector. Active trading also seen in December 70 calls, September 72 calls and September 67 puts.