Select Sector Financials (XLF) with a bearish three-way trade today after a strategist apparently sells Aug 16 calls at 15 cents to buy the Aug 12 – 14 put spread at 37 cents, 8000X. This spread, at a 22-cent net debit, offers a max pay off of $1.78 if shares fall to $12 (-17.4 percent) or less by the August expiration (53 days). XLF is down 10 cents to $14.53 today.
Category: All ETFs
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.