Brian Stutland's Option Strategy In XLE

Brian Stutland said in an interview with Maria Bartiromo on CNBC that investors with a long position in Energy Select Sector SPDR (ETF) XLE should buy a put option as a protection. He recommends investors buy September 50 put for $2.5. Your breakeven in this trade is at $47.5. Energy Select Sector SPDR (ETF) (XLE) closed today at $51.55, with a decline of 3.52%.