We haven’t traded CSCO much this year, but we’ve followed the story closely. Here is what Dan had to say in the earnings preview from earlier this month: CSCO was a bit of a show …
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A few weeks ago we highlighted two potential portfolio protection trades on what appeared to be a possible inflection point in the market. Dan discussed one of the trades on CNBC’s Options Action on Aug …
Continue readingThe $150 oil spike theorists are back in force. Anytime geopolitical risk in the Middle East rears its ugly head (which, unfortunately, is far too frequently), there are those who say that any severe supply …
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MorningWord 8/28/13: This morning in his MacroWrap, Enis highlighted the faltering leadership from the Financial sector, but specifically he noted, “The break of this uptrend of out-performance is concerning as the market searches for …
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Financials were the best performing sector in the U.S. market after a strong earnings season in mid-July. But as so often happens in markets, investors and traders had clearly bought ahead of that good news, …
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Macro hedges dominated options activity. SPY – Customer rolled down Sept 169 puts (selling almost 50k), into the Sept 164/156 and the Oct 164/156 put spreads (bought almost 50k of each). VIX – Call to put ratio …
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One by one, the big losers of 2013 have rallied back. AAPL and Gold, Silver, and Gold Miners all bottomed near the end of July. Since then, they have been outperforming assets rather than dramatically …
Continue readingThe DJIA index hit its lowest level since June 26th today. The large cap index has actually been much weaker than the S&P 500, Nasdaq or Russell 2000 in the month of August. It is …
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VIX spot is up to 16.50 today, its highest level since July 3rd. Even though the SPX index is down 75 points from its August 2nd high, the VIX is still at 16.50. It’s quite …
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MorningWord 8/27/13: Last night Bill Ackman’s Pershing Square hedge fund sold its entire stake in JCP of 39.1 million to Citi, who is now in the business of placing it with investors. Given the …
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