Market Overview

Kevin Kelly's Technology ETF Trade

Related XLK
What A Split Congress Means For The Stock Market
Buy Tech Or Brace For 'Epic' Downturn? 2 Pros Share Their Strategies To Play The Market
Bespoke's Asset Class Performance Matrix (Seeking Alpha)

Kevin Kelly, the managing partner at Kelly & Co., spoke on Bloomberg Markets about a bullish options trade in Technology Select Sector SPDR Fund (NYSE: XLK).

He suggested investors should buy the June 65 calls in the name for $2.80. The trade breaks even at $67.80 or 4.78 percent above the closing price Tuesday. Kelly added that the 64 strike straddle implies a move of around 8.4 in either direction.

Posted-In: Bloomberg Markets Kevin KellySector ETFs Options Markets Media ETFs


Related Articles (XLK)

View Comments and Join the Discussion!

7 Stocks Moving In Tuesday's After-Hours Session

Veritone Rips Higher After Being Recognized By AWS