Options Trader Alert for Technology Select Sector SPDR

Posted on 03/22/2012 by Rich Singler


NEW YORK (AVAFIN) -- Technology Select Sector SPDR options contracts experienced a new 90-day record for call contracts where a total of 21,206 call contracts were traded in the busy trading session. The contract spread yielded a 0.30 put/call ratio where 3.3 call contracts were traded for each put contract.

The ratio skew implies that investors are hedging their positions in anticipation of a stock move. Today's unusual volume activity confirms that traders are re-balancing their portfolios.

Shares of Technology Select Sector SPDR edged down $0.01 (0.03%) to $30.06. The price of the stock ranged between a low of $30.05 and $30.25 respectively. The trading volume of 8M is above the 90 day average volume of 8M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. XLK is trading above the 50 day moving average. The stock's 52 week low is $22.47 and 52 week high is $30.17. Within the last month, shares of XLK have gained 21.90% of their value.

Market Snapshot (03/21/2012)
  SPX 1393.16 -9.73 -0.69%
  DOW 13055.4 -69.20 -0.53%
  NASDAQ 3063.32 -12.00 -0.39%
  VIX 15.62 0.49 3.24%

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