Technology Select Sector (XLK) $22.92 +0.13%
Select Sector Technology (XLK) is up 3 cents to $22.92 and an investor collects 15 cents on Jan 23 calls, 24000X. More than 50K have now traded vs. 84K in open interest. So this might be closing trades ahead of next week’s expiration. That is, since only 5 and half trading days remain until these options expire, and the contracts is currently 8 cents out-of-the-money (23 – 22.92), these premium sellers are likely liquidating positions to salvage the 15 cents of time value that still remains.
Category: All ETFs
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About the Author (Author Profile)
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.
Thanks for the spot on this Fred, wasn’t keeping an eye on them. It was featured on Fast Money that the calls were purchased (by one of the Najarians). Interesting to see them being rolled or liquidating now….
hehe
Sold my $XLF Leaps today though
Fast Money? More like “this is what already happened money”.
Maybe some were bought, but most sold. I’ll check the Open Interest Monday, but my guess, big drop.