In mid April over a two-day period, a customer bought o75,000 of the XLK Jun 38 calls paying between .15-.20. At the time the stock was trading just below $36/share.? Today that customer appears to be taking profits on his or her trade.
So far just under 38,000 of the XLK June 38 calls have traded at around .42 net.? This appears to be a customer taking off a winner.? While this certainly does not mean the stock is done running higher, it does point toward the customer making a decision to take money off the table.
Traders should view this as bearish volatility and neutral to slightly bearish the stock price.