The price action in gold and silver caught my eye yesterday morning. Both metals broke down to 1 month lows after yesterday’s early selling, which looked like stops getting hit rather than any proximate news. …
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Call activity picked up again (CBOE put/call back down to 0.85) as traders reached for upside. QQQ – Trader bought over 70k of the Dec13 81 calls, paying 1.43 on average. QQQ hit a new 10 …
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After yesterday’s global rally, the second day of October has brought out the sellers. Asian markets almost all opened green, but SPX futures started moving lower shortly after midnight EDT, and were hit particularly hard …
Continue readingCaterpillar’s stock chart is a great example of how traders and investors focus in on a specific level after numerous tests: Market participants involved in CAT are well aware of how it has behaved around …
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Back in late in Aug Enis and I bought a tight call butterfly (below) in XOM as the stock approached long term support above $86. The stock bounced a bit and we took profits in …
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Event: MON reports its fiscal Q4 earnings tomorrow before the open. The options market is implying about a 3.25% one day move, which is above the 4 qtr avg of about 1.6%, and slightly above …
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MorningWord 10/1/13: Despite the nerve center of the financial markets being situated right here in downtown Manhattan, most market participants in the U.S. have spent the better part of the last 4 months focused on …
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The third quarter went to the small caps. In fact, since the market’s May high, the Russell 2000 is up more than 6%, while the S&P 500 is essentially flat. But the biggest drag on …
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Single stock options volumes were quite low yesterday despite the intraday volatility. FB – Call to put ratio once again above 2, at 2.5 by the close (has averaged 2.3 for the past month). Oct19th 52.5 …
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The midnight deadline arrived, and the government shut down is officially underway. But the reaction by global asset markets was sanguine, after 2 days of declines. As I discussed in yesterday’s Macro Wrap, some market …
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