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October 4, 2012  Thu 9:26 AM CT

XLF: SEE CHART GET CHAIN FIND STRATEGIES
The SPDR Financial Fund is pushing back toward last month's highs, and one trader is betting on a floor beneath its shares.

The XLF is up 1.5 percent to $16.07 and on pace for its highest close since Sept. 17, the day after it hit a 52-week high of $16.44. The exchange-traded fund was below $11 a year ago.

A trader sold 20,000 March 12 puts for $0.11 this morning, according to optionMONSTER's systems. The  volume was more than triple the open interest in the strike at the start of the session, clearly indicating a new position.

This put selling is a bet that the XLF will hold above $12 in the coming months. It was last below that price on a quick dip in late November. (See our Education section)
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Options Academy: Ron's Risk Calculation--A Real Life Example

It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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