|Put activity surges in oil and gas ETF|
optionMONSTER – 37 minutes ago
SPDR S&P Oil & Gas Exploration and Production Fund is seeing heavy put buying as the stock pulls back from resistance.
The XOP exchange-traded fund is down 1.84 percent to trade at $60.20. Yesterday it again pushed against resistance around $61.50 that has been in place since July as shares remain in an uptrend from support around $49 least seen in mid-December.
A trader bought 4,800 June 45 puts for the ask price of $0.44 just after the open, 4 times the open interest, according to optionMONSTER's Depth Charge system. About 40 minutes later, a block of 6,653 May 58 puts was bought for $2.04 with no open interest at that strike.