Technology Select Sector SPDR (XLK) Draws Momentum Play

According to fredruffy (whatstrading.com), the “Technology Select Sector Fund” (NYSE:XLK) touched a new 52-week high and is up 20 cents to $25.93 and one investor buys-to-open a block of 100,000 January 26 calls at 21 cents each.

The position, which appears opening, is a short-term play. January options expire at the end of next week and markets are closed Monday for the holiday. Consequently, after today, only 6 trading days remaining before the January expiration. It might be a play on the recent momentum in the tech sector and or earnings from Intel (INTC) Thursday afternoon.

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