Options News
$XLF bulls double their money overnight
Bullish traders doubled their money in upside option trades on the SPDR S&P Financial Fund today. On Dec. 26, Investitute’s tracking systems detected the purchase of 10,000 Weekly $23.50 calls expiring on January 4 in one print for $0.21 with shares at $22.75. This was clearly a new position, as the call volume was far […]
Bullish traders doubled their money in upside option trades on the SPDR S&P Financial Fund today.
On Dec. 26, Investitute’s tracking systems detected the purchase of 10,000 Weekly $23.50 calls expiring on January 4 in one print for $0.21 with shares at $22.75. This was clearly a new position, as the call volume was far above the strike’s open interest of 1,027 contracts.
Those calls traded up to $0.50 today, more than twice their original purchase price. The stock rose 3.56 percent in the same time period, illustrating the kind of leverage that can be achieved through options.
XLF rallied higher this afternoon to close at $23.60, up 1.2% on the day, after caution about the future of rate hikes from the Federal Reserve appeared to subside.