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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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.