Data indicate some options traders turned to the weekly XLF $27 puts, which expire Friday June 1.

“XLF has tended to reward premium sellers over the past year, per its Schaeffer’s Volatility Scorecard (SVS) reading of 25. In other words, the fund has underperformed over the last 12 months, relative to what the options market has priced in,” according to Schaeffer’s.

Investors have added $662.6 million to XLF since the start of the second quarter. The ETF is down about 1.6% year-to-date.

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