MorningWord 12/20/12: The 3 month chart below of AAPL and RIMM’s price performance shows the stark difference in investor sentiment for the 2 smartphone makers of late. AAPL has re-traced more than half of its …
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VIX price action surprised everyone yesterday. Even when the market was close to unchanged midday, VIX spot was up almost a point. Some of that can be attributed to the monthly roll, as Dan mentioned …
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On a day when the VIX was up more than 10%, a lot of single stock call trading continued. ORCL – Someone rolled their short Dec 33 calls out to the June 35 calls, paying …
Continue readingTrade Update Dec 19th, 3:10 pm: I initiated a delta neutral Dec / Jan calendar in FDX yesterday before earnings because I thought the push / pull setup in the FDX story made a small …
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With the markets generally sanguine about the potential outcome of the “fiscal cliff” negotiations in Washington, my thought is too take the other side of the general near term complacency as we head into the …
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The SPX index is up about 1.25% in the last week. Yet, VIX futures are close to unchanged in that time (and VIX spot is actually slightly higher). That’s rare price action, especially with the …
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MorningWord 12/19/12: Enis and I had a very interesting dinner last night with a former emerging market strategist for a large bank and a global macro hedge fund manager, where we debated the prospects for …
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Fedex reported an earnings miss today that it blamed entirely on the impact from Hurricane Sandy. It reported 1.39 in EPS vs. 1.41 expected, citing an 11 cent cost from Sandy that caused the miss. …
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Financials broke out to new highs, and options volumes in single stocks and the ETFs were most active, mostly buyer initiated. XLF – The Dec / Jan13 16 call spread traded 25k times in the …
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As I wrote in my preview yesterday, the bull / bear case depends on the 2013 outlook from FDX. The stock looks cheap, but traders are worried about global growth headwinds. Given the legitimate points …
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