A Reversal for Technology SPDR (ETF) Is Not Near. Professional Options Traders Are Bearish

 A Reversal for Technology SPDR (ETF) Is Not Near. Professional Options Traders Are Bearish

In today’s session Technology SPDR (ETF) (XLK) recorded an unusually high (5,104) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious XLK decrease. With 5,104 contracts traded and 61644 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: XLK170120P00044000 closed last at: $0.67 or 9.5% down. Technology SPDR (ETF) (NYSEARCA:XLK) has risen 9.73% since March 15, 2016 and is uptrending. It has outperformed by 4.24% 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 $13.24 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 5.5 P/E ratio.

XLK Company Profile

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 Index). 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.

More notable recent Technology SPDR (ETF) (NYSEARCA:XLK) news were published by: Thestreet.com which released: “What Are the Best Sector ETFs? Energy, Technology, Transportation” on October 17, 2016, also Fool.com with their article: “3 Top Technology ETFs to Buy in 2016” published on October 16, 2016, Benzinga.com published: “Dan Deming’s Technology SPDR ETF Trade” on September 29, 2016. More interesting news about Technology SPDR (ETF) (NYSEARCA:XLK) were released by: Etfdailynews.com and their article: “Here’s Why All Investors Need Exposure to the Tech Sector” published on September 14, 2016 as well as Etfdailynews.com‘s news article titled: “Technology Once Again Dominates Returns in Q3” with publication date: September 28, 2016.

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