In today’s session Materials Select Sector SPDR (XLB) recorded an unusually high (931) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious XLB decrease. With 931 contracts traded and 24764 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: XLB170120P00043000 closed last at: $0.68 or 10.5% down. The stock decreased 1.36% or $0.65 on October 4, hitting $47.04. Materials Select Sector SPDR (NYSEARCA:XLB) has risen 11.24% since March 1, 2016 and is uptrending. It has outperformed by 2.00% the S&P500.
Materials Select Sector SPDR Fund seeks to provide investment results that correspond generally to the price and yield performance of the Materials Select Sector Index (the Index). The company has a market cap of $2.82 billion. The Index includes companies involved in such industries as chemicals; metals and mining; paper and forest products; containers and packaging, and construction materials. It currently has negative earnings.
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