What’s Ahead for Materials Select Sector SPDR After Today’s Bearish Options Activity?

 What's Ahead for Materials Select Sector SPDR After Today's Bearish Options Activity?

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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