As the rally from the February lows started to get a little long in the tooth we tried to be patient in targeting sectors for a pullback from the recent highs, as they seemed to …
Continue readingCHK
The rally in the S&P 500 (SPX) from last month’s lows near 1800 to today at 2000 was initially powered by some of the most loved and most prominently weighted in the index. But of …
Continue readingOn any given trading day of late, single stock put volumes tend to be dominated by energy related trades. Investors in energy stocks, especially stocks whose equity declines have exposed the high levels of leverage, …
Continue readingHere is some generally directional, untied options activity that caught my eye during Wednesday’s trading: 1. LEN – Lenar (LEN) reports their fiscal Q1 results this morning before the open. Read our preview from yesterday …
Continue readingVIX spot fell almost 2 points yesterday, with the entire VIX futures curve down more than 1 point. That’s a huge move for VIX futures. Especially with payrolls today, and elections on Tuesday. Most interesting …
Continue readingAfter another extremely quiet day yesterday, price action overnight has the feel of the usual European panic that we have seen so many times in the past 2 years. The Euro is back below 1.22, …
Continue readingUpdate SPY, June 26th at 10:45am – Sell SPY 132 calls at $0.75, a small loss: I am going to sell the calls I bought yesterday at 0.79 for 0.75 today, for a small loss. I …
Continue readingAs I mentioned in this morning’s Macro Wrap, I expected the recent selloff to make new lows, and I am quite bearish on the 1-2 month outlook for markets as global recession fears escalate. Earnings …
Continue reading