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Mike Khouw Sees Unusual Options Activity In XLF

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On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Financial Select Sector SPDR Fund (NYSE: XLF).

Khouw noticed a big put spread trade in the name as over 44,000 contracts of the June 27/24 put spread were traded for around 42 cents. The trade breaks even at $26.58 and it can maximally make a profit of $2.58. Khouw added that this could be a hedge for a long position because the lower strike of $24 is the price level Financial Select Sector SPDR Fund had on the beginning of the year.

Posted-In: CNBC Mike Khouw Options ActionSector ETFs Options Markets Media ETFs

 

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