A long-term call strategy tops today’s option volume in the Utilities Select Sector SPDR Fund as it comes off six-month highs.
optionMONSTER systems show that more than 52,000 XLU options have changed hands, almost 10 times its daily average in the last month. Almost all of that volume is in a January 2015 call spread.
A trader sold 25,000 of the 38 calls for $1.62 in volume below the strike’s previous open interest of more than 26,000. Seconds later, he or she bought 25,000 of the 42 calls for $0.38 against open interest of only 60 contracts at that strike, so that is a new position.
— Option Monster