CNBC Stock Blog
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- 10 Stock Picks for This 'Gradual Recovery'
- Recovery's Real Shape? Not a W: Stock Picker
- Market Direction into 2010 Depends on This: Analysts
- Prep Your Portfolio for Next Week: Stock Pickers
- Art Cashin: Why Markets Face 'Enormous' 1-Day Swings
- India or China: Which Is the Better Place to Invest?
- What Traders Expect From This Bank Stock
- Gold Is a Bad Inflation Hedge—Like Oil: Stock Picker
MOST SHARED
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Today's Market Action
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Israel Going Green
- China's Role as Lender Alters Dynamics for United States
- Inside Wal-Mart's Acai Berry Juice Maker
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
- China: Low US Interest Rates Threaten Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- White House Plans to Freeze Spending to Cut Deficit
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
RSS FEED
Text Size 
"Fast Money" Contributor
The XLB materials exchange traded fund has risen 50 percent since its March lows, and options traders are betting that it still has some fuel left in the tank .
More than 71,000 calls changed hands at the June 28 strike yesterday, including a single chunk of 49,900 bought for $0.90, according to OptionMonster's tracking systems. The average daily volume at that strike is just 38 calls, and open interest was 1,072 contracts.
The XLB [XLB
Loading...
()
], known formally as the Materials Select SPDR, closed the session up 0.45 percent to $27. It reached its 52-week low of $17.83 on March 6.
Yesterday's call activity suggests that traders believe that the XLB will climb at least to $28 by the time contracts expire in mid-June. The ETF, which combines agriculture, chemical, and metals names, has ramped higher along with the rise in commodities.
Disclosure:
Najarian owns a call spread in XLB.
___________________________
Options Education:
___________________________
___________________________
Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.
___________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes