The Select Sector SPDR Financials, which, as of this writing, are currently trading at 22.28. This name has been one of the major laggards over the last few days.? Today a trader who may have been long December 25 calls sold them out and rolled the position down to the December 24 calls on a ratio.? The trader sold just under 56,000 of the Dec 25 calls at an average price of .075, the trader then bought just under 14,000 of the Dec 24 calls for .20.
The spread is a net credit, given that the trader is likely closing a losing long, it is possible the trader did not want to invest any more dollars in this position and chose to reduce the long call exposure rather than fork over more dollars.
This trade should be considered bullish the underlying and volatility, although not one I would want to piggy back upon.