Could Materials Select Sector SPDR Change Direction After Today’s Bearish Options Activity?

 Could Materials Select Sector SPDR Change Direction After Today's Bearish Options Activity?

In today’s session Materials Select Sector SPDR (XLB) recorded an unusually high (855) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious XLB decrease. With 855 contracts traded and 2804 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: XLB161118P00047000 closed last at: $0.63 or 8.7% down. Materials Select Sector SPDR (NYSEARCA:XLB) has risen 8.40% since April 8, 2016 and is uptrending. It has outperformed by 2.75% 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 $2.86 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.

XLB Company Profile

Materials Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond to the price and yield performance of the Materials Select Sector of the S&P 500 Index (the Index). The Index includes companies primarily involved in industries, such as chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products.

More notable recent Materials Select Sector SPDR (NYSEARCA:XLB) news were published by: Seekingalpha.com which released: “Which Sectors Looking Better For Q4 2016?” on November 06, 2016, also Thestreet.com with their article: “Bear Alert: There Are No Safe Havens Among S&P Sectors” published on November 07, 2016, Forbes.com published: “Tuesday Sector Leaders: Consumer Products, Materials” on November 08, 2016. More interesting news about Materials Select Sector SPDR (NYSEARCA:XLB) were released by: Realmoney.Thestreet.com and their article: “Materials Stocks Are Looking Bullish” published on November 09, 2016 as well as Seekingalpha.com‘s news article titled: “Stocks Gaining Energy” with publication date: October 11, 2016.

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