SPDR S&P Oil and Gas Exploration and Production (XOP) $49.35 -3.78%
SPDR Oil and Gas Exploration and Production Fund (XOP) is actively traded today, with 121,000 puts and 4,075 calls traded in the product so far. Shares are down $1.87 to $49.42. The top trades of the day appear to be rolling activity from ITM to OTM puts after one strategist sold 33,000 Dec 52 puts on the ETF at $4 per contract to buy 47,000 Dec 49 puts for $2.50. Shares are in the midst of a six-day 11.5 percent losing skid and the positoin adjustment seems to reflect expecatations for additional losses in the weeks ahead.
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.
