Dan Nathan Sees Unusual Options Activity In Technology SPDR (ETF) And Select Sector Financial Slct Str SPDR Fd

, Dan Nathan spoke about a bullish bet in

. There was a big call option purchase in the December expiration on Friday and Nathan explained that the trader is probably targeting the FOMC meeting. The trader bought 55,000 contracts of the December 45.5 calls for $0.09, paying $495K in premium for the trade. The break even for the trade is at $45.59 or approximately 2.5 percent higher from the closing price on Friday. Nathan explained that the ETF currently looks like it is breaking out on the upside and the trader is making a low premium, leveraged bet that it is going to continue to move higher. Nathan noticed a similar activity in

. Somebody bought 50,000 contracts of the December 25.5 calls for $0.08 and Nathan believes that the same trader is behind the trade. This trade breaks even at $25.58 or approximately 3.5 percent higher.