On the day of the FOMC meeting results last week, there was quite a bit of unusual options activity in Financial Select Sectors SPDR Fund (XLF), says Jay Soloff of Investors Alley.
XLF, the most heavily traded financial sector ETF, traded about 2.5x its normal options volume.
67% of the activity was in calls, which is generally a bullish signal. The largest trade was an over 45,000 block of calls that expire on July 2nd. The short-term trade could be related to renewed investor interest in banks after comments from the central bank concerning higher rates.
Learn more about Jay Soloff at Investors Alley.
