Calls Favored in the Financials (XLF)

Shares of the SELECT SECTOR SPDR FINANCIAL ETF (NYSE: XLF) are falling again today, currently trading $15.22, off 0.85% on the session. The ETF has now failed to regain the 50-day moving average and is now focused on the 200-day moving average around $15.

The SELECT SECTOR SPDR FINANCIAL ETF is seeing strong bullish buying today, though. The June $17 call has been purchased nearly 23,000 times in addition to 7,500 June $15s purchased and the June $16 traded 1,500 times.

The put/call ratio is running at a high level, however.