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.