SPDR Oil and Production Fund (XOP) is up 84 cents to $50.42 and one player sold 20,000 July 54 calls on the ETF, down to 23 cents per contract. It probably closes a positoin opened Friday, which included 18,098 bought on the ISE for 34 cents, to open. Shares are not much changed since that time and today’s trader is possibly liquidating the position on diminishing hopes for a rally in the oil and gas names through the July expiration — two weeks from today.
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.