Key facts
- 5,000 call spreads on the SPDR S&P Metals & Mining ETF (XME) were purchased.
- The call spreads have strikes at $140 and $155.
- The expiration date for these options is in July.
- The metals sector is noted as being active in the market.
This trade involves buying call spreads, which is a strategy where a trader buys a call option and simultaneously sells another call option with a higher strike price. This is typically done to profit from an expected increase in the underlying asset's price, but with limited risk and limited profit potential. The activity in the metals sector suggests ongoing investor interest or speculation in this area.