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More Upside Likely For iShares Global Clean ETF In Next 5 Weeks

Published 09/08/2022, 13:18
Updated 09/08/2022, 14:11
© Reuters. More Upside Likely For iShares Global Clean ETF In Next 5 Weeks

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Global Clean Energy ETF (NYSE:XLE) (NASDAQ: ICLN) traded more than 9.5 times its average daily call volume on Monday. The options market saw a lot of institutional activity, he added.

Check out other stocks making moves in the premarket.

There were buyers of 21,937 of the September weekly 24-calls at an average price of 72 cents per contract, Khouw mentioned. Traders expect shares of iShares Global Clean Energy to rise by 10% in the next five and a half weeks, he added.

ICLN Price Action: Shares of iShares Global Clean Energy gained 0.45% to settle at $22.51 on Monday.

Also Read: These 3 Renewable Energy Stocks Offer Generous Dividend Yields: Passive Income For ESG Investors

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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