Could Technology SPDR (ETF) Change Direction After Today’s Bearish Options Activity?

 Could Technology SPDR (ETF) Change Direction After Today's Bearish Options Activity?

In today’s session Technology SPDR (ETF) (XLK) recorded an unusually high (2,505) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2018 put, expecting serious XLK decrease. With 2,505 contracts traded and 7084 open interest for the Jan, 18 contract, it seems this is a quite bearish bet. The option with symbol: XLK180119P00041000 closed last at: $1.89 or 5.5% down. Technology SPDR (ETF) (NYSEARCA:XLK) has risen 6.44% since April 11, 2016 and is uptrending. It has outperformed by 0.30% 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 $12.35 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 5.39 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: Seekingalpha.com which released: “Valuation Dashboard: Technology And Telecom – Update” on November 10, 2016, also Fool.com with their article: “3 Top Technology ETFs to Buy in 2016” published on October 16, 2016, Nasdaq.com published: “Mid-Day ETF Update: ETFs Lower, Stocks Mixed as Post-Election Rally Falters …” on November 10, 2016. More interesting news about Technology SPDR (ETF) (NYSEARCA:XLK) were released by: Thestreet.com and their article: “Dow Hits New Records, Nasdaq Falls as Tech Stocks Decline” published on November 10, 2016 as well as Thestreet.com‘s news article titled: “These 5 Tech Trades Are Breaking Out in November” with publication date: November 08, 2016.

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