On Tuesday we detailed a bearish long premium directional trade idea in the IWM, the etf that tracks the Russell 2000, the small cap U.S. index (read here). Here was our view about the current …
Continue readingApril Expiration
In a previous post I gave my thoughts on crude oil (here) and the recent 45% rally over the last month. The bounce in the commodity has eased investor’s concern in credit, currency and equity markets. …
Continue readingThis morning on CNBC Warren Buffett, the largest holder in IBM (with nearly 9% of the shares outstanding), said he is not sure if he’s made a mistake owning the stock, but he has not sold …
Continue readingIn case you missed it, I am not a buyer of stocks after the 8% rally in the S&P 500 (SPX) from its 52 week lows made Feb 11th. Regular readers know that I feel quite …
Continue readingYesterday in my MorningWord (Skyfall for Treasury Yields?) I offered my take on the prior night Fast Money guest Raoul Pal‘s view U.S Treasury yields were likely to go lower over the course of the next year, …
Continue readingOver the last year my trading in Yum Brands (YUM) has been both right and wrong, with most recent being wrong. Since February there has been some fairly consistent build up in call open interest, …
Continue readingOn Monday I previewed NFLX’s Q1 results due out after the close (below). The implied one day move is now about 9.5%, the April 17th weekly $472.50 straddle (the put and the call premium) is …
Continue readingAt the beginning of March we looked at Salesforce (CRM) following its late February earnings announcement that saw the stock gap higher above $70 for 2 days, which was quickly followed by a gap fill towards $64. …
Continue readingWell, this one was wrong right out of the gate. Eight days ago we put on an out of the money put spread in IBB, the biotech etf. The thought was that if the small …
Continue readingEarlier (below) I closed the March 65/67.50 call spread that I entered nearly one month ago in Macy’s. The original trade was to express a bullish view into the company’s Q4 earnings. As I stated in …
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