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An incredible amount of bearish option trading has been going on in the Financial Select Sector SPDR (ETF) all day long. So far, about 282,000 options have traded (119,000 calls and 163,000 puts). Of the 119,000 calls that have traded, 92% of them have traded at the bid price or below indicating aggressive selling of calls. Of the 163,000 puts that have traded, 82% of them have traded at the ask price or above indicating aggressive buying of puts. This has resulted in a net negative 5,000,000 deltas in the overall options traded in XLF indicating that big traders are making big bets against the Financial Sector ETF today. Biggest holdings in this ETF include $JPM $BRK.B $WFC $C $BAC and $GS. We will continue giving updates in our live trading stream throughout the day.
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