XLF Options Outlook: Will the $56 Put Wall Hold Through July 31?

State Street Financial Select Sector SPDR ETF, ticker XLF, closed at 56.32. Hold that number, because everything in this episode is measured against it. Our read into the July 31 expiration is leaning bullish. Not a conviction call. Put buying has faded, calls have been building faster than puts, and puts now cost less than calls the same distance away, which is rare for this fund. The…

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