Shares of the Financial Select Sector SPDR (XLF) are trading up .15 today to $16.62? XLF is trading near its highs of the year.
Paper bought the XLF Jan 2014 20 calls for prices ranging from .25-.26.? The volume today is 18,030 contracts with blocks of 3,636 and 6,000 contracts.? Average contract volume is over 206,000 contracts per day.? Open Interest is over 47,000 contracts on the Jan 2014 20 strike.? The implied volatility is flat today in January 2014. The paper looks to be closing on the offer but it would be instructive to check the open interest tomorrow.
30-day implied volatility is 19.72%.? 10-day implied volatility is 13%.? 30-day implied volatility is trading over the 10-day historical volatility suggesting some activity is expected in the Jan cycle.
Financial Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Financial Select Sector Index (the Index).