On the heels of massive spread trades in the Technology Sector Fund (XLK) Wednesday (see 10/27 color), puts are actively traded again today. One player bought 25000 XLK Dec 24 puts at 59 cents. 30000 have now traded. Another bought 10000 November 23 puts at 14 cents. XLK has added 12 cents to $12.43 today with help from Microsoft’s better-than-expected earnings. However, the options order flow over the past few days seems to reflect some underlying concern about the outlook for the tech sector in the weeks/months ahead.
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.