SPDR Tech Sector ETF (XLK) – Bearish Options Action Trade for Sept 24th, 2018
On Friday’s Options Action, the crew analyzed the performance of technology stocks. The S&P Tech Sector has lagged the market this past week and underperformed on a relative basis to the market. Semiconductors have started to break lower and topped on a relative basis 7 months ago, creating a drag on the overall tech sector. Coupled with weakness from the largest weights in the sector and expecting a move lower Michael Khouw suggests buying Nov 75/50 Put Vertical for a $1.15 Debit. As of Friday’s close, this spread is trading at $1.25.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: XLK Options Action
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