XLK SPDRs Select Sector Technology ETF (FreeStockCharts.com)
Large XLK December 20-23 Put Spread at Resistance, $7.6 Million Net Debit
10/08/2010 05:35:00 AM
A large put spread was put on in the tech ETF $XLF. According to CrimsonMind 112,300 December $23 Puts were bought for $0.87 and 112,300 December $20 Puts were sold for $0.19. That's a net long put position worth $7.6 million. XLK is at technical resistance so the puts could be hedging underlying long exposure. Both Chris McKhann at OptionMonster and CrimsonMind thought they were connected with shares. WallStreetPit also had analysis. Read the articles for exact profit/loss figures. If XLK trades down to $20, the spread would make decent money.
HTML Comment Box is loading comments...