$XLF bulls triple their money

Bullish traders tripled their money over the weekend in upside option trades on the SPDR S&P Financial Fund.

On Friday, Mar. 29, Investitute’s tracking systems detected the purchase of 25,000 Weekly $26 calls expiring on April 5 in one print for $0.14 and $0.15 with shares at $25.77. This was clearly a new position, as the call volume was far above the strike’s open interest of 1,658 contracts.

Those calls traded up to $0.45 today, triple their original purchase prices. The stock rose 2.25% in the same time period, illustrating the kind of leverage that can be achieved through options.

XLF rallied higher this afternoon to close at $26.34, up 2.45% on the day, as the yield on the U.S. 10-Year rose from a 52-Week low.