After Today’s Bullish Options Activity, Is Technology SPDR (ETF)’s Near-Term Analysis Positive?

 After Today's Bullish Options Activity, Is Technology SPDR (ETF)'s Near Term Analysis Positive?

In today’s session Technology SPDR (ETF) (XLK) registered an unusually high (1,540) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious XLK increase. With 1,540 contracts traded and 185104 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: XLK161021C00048000 closed last at: $0.45 or 4.3% down. The ETF decreased 0.36% or $0.17 on October 4, hitting $47.47. Technology SPDR (ETF) (NYSEARCA:XLK) has risen 12.92% since March 1, 2016 and is uptrending. It has outperformed by 3.68% the S&P500.

Sector SPDR Trust SBI Interest, formerly Technology Select Sector SPDR Fund, seeks to provide investment results that correspond to the price and yield performance of the Technology Select Sector of the S&P 500 Index . The ETF has a market cap of $12.81 billion. The Index includes companies primarily involved in industries, such as information technology (IT) consulting, semiconductor equipment and products, computers and peripherals, diversified telecommunication services and wireless telecommunication services.It utilizes a passive or indexing investment approach to invest in a portfolio of stocks that seek to replicate the Index. It has a 5.49 P/E ratio.

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