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Kevin Kelly's Technology Select Sector SPDR Fund Trade


Kevin Kelly of Recon Capital Partners suggested on "Bloomberg Markets" an options strategy in Technology Select Sector SPDR Fund (NYSE: XLK).

He thinks the stock is going to either break out to the upside or to the downside, and he wants to buy a call and a put to profit if it moves sharply in either direction. Specifically, he wants to buy the July 56 put and the July 57 call for a total cost of $1.54. The trade is going to make money if Technology Select Sector SPDR Fund drops more than 3.81 percent or if it jumps more than 3.39 percent at the July expiration.


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Posted-In: Bloomberg Markets Kevin KellyOptions Markets Tech Media