Mike Khouw Sees Unusual Options Activity In Select Sector Financial Slct Str SPDR Fd - SPDR Select Sector Fund - Financial (ARCA:XLF)

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Mike Khouw said on the show that he noticed unusually high options volume in

Select Sector Financial Slct Str SPDR Fd (NYSEARCA:XLF) as nearly 1.5 times its average daily put options volume was traded. The largest portion of options volume in the ETF happened in two strikes. A trader rolled 25,000 contracts of the November 21 puts for the December 21 puts and paid $0.17. Khouw explained that the trader is hedging at the levels that haven't been seen since the beginning of the year. He thinks that the trader is trying to exploit low options prices to protect his portfolio.