Huge Options Volume Pushes Into Tech ETF (XLK)

The Technology Select Sector SPDR ETF (NYSE: XLK)(FREE stock trend analysis) normally has options volume of 3,500 contracts, but more than 140,000 have changed hands today as the ETF touched a new 52-week high.

Two blocks of the December 22 calls combined for volume of nearly 74,000 contracts and similar sized blocks were spotted in the January 23 calls. Open interest in the December 22 calls was 81,000 contracts, while in the January strike it is just 1,159 contracts.

XLK is up more than 1% in the past month. Top holdings include Microsoft (Nasdaq: MSFT), Apple (Nasdaq: AAPL)(FREE stock trend analysis) and AT&T (NYSE: T).