Select Sector Financials (XLF) June 12 call is the most active options contract in the first hour of Wednesday’s session. 93.4K traded. The bulk of the volume appears to be part of a 1X2 ratio spread involving 45K June 10s and 90K June 12 calls. With XLF unchanged at $12.50, the spread likely closes a position ahead of next week’s expiration (possibly one opened in early March with XLF around $7.25). June 11 – 13 call spread trades 30.5K, also looks closing.