Rochester, NY 9/1/2009 7:58:45 AM
Energy Select Sector SPDR XLE,after market closed down 1.94%
Energy Select Sector SPDR
XLE – Energy Select Sector SPDR ETF – Shares of the energy fund are up more than 1% to $52.92. We observed near-term bearishness and medium-term bullishness displayed through options on the ETF today. A ratio put spread initiated in the September contract indicates near-term pessimism by some traders. The transaction involved the purchase of 2,500 puts at the September 52 strike for 1.69 apiece spread against the sale of 5,000 puts at the lower September 48 strike for 55 cents each. The net cost of the trade amounts to 59 cents and yields maximum potential profits to the downside of 3.41 if shares fall to $48.00 by expiration. Bullish sentiment was seen at the December 57 strike where 2,100 calls were coveted for 2.00 apiece. An 11.5% rally in shares to the breakeven price of $59.00 will allow this optimistic energy player to begin to amass profits by expiration in December.
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Last Trade: 51.17
Day's Range: 50.84 - 51.52
52wk Range: 37.40 - 78.10
Change: Down 1.01 (1.94%)
Volume: 13,312,960
Avg Vol (3m): 20,824,400
About Energy Select Sector SPDR
Energy Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond to the price and yield performance of the Energy Select Sector of the S&P 500 Index (the Index). Energy companies in the Index primarily develop and produce crude oil and natural gas, and provide drilling and other energy-related services. The Fund utilizes a passive or indexing investment approach to attempt to approximate the investment performance of the Index. The Fund’s investment advisor is SSgA Funds Management, Inc.
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