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The following are highlighted options insights and ideas from TheStreet.com.
From Option Traders Look for Volatile January in Financials:
Long January volatility plays also showed up in the Financial Select Sector SPDR (XLF Quote), the basket of money-center banks, including Citigroup (C Quote), that also serves as a popular hedge vehicle against individual components. With shares in the ETF down 2.6% to $13.45 (within a buck of its 52-week low), it looks like a 5,800-lot straddle went through at the January $15 line, with the trader buying the call and put concomitantly for a total premium of $6.65. This position would imply the trader is looking for a recovery in the XLF either above $16.65 or a break below $3.35. ...
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