CBOE composite put/call ratio closed at 0.75 on Friday. It has not closed at 1.00 or higher since October 15th, as bullish enthusiasm reigns. EWJ – Buyer of around 70k of the Dec 12 puts for …
Continue readingFXI
The CBOE composite put/call ratio remained quite low for the 3rd straight day, with calls dominating the single stock options volume. INTC – The Nov8th 23.5 puts traded over 50k at an average price of $0.23 …
Continue readingCopper and China have been bedmates for many years now. The correlation between copper prices and Chinese financial assets has been quite close for the past 5 years, reflecting the financialization of the copper market …
Continue reading
AAPL dominated single stock volumes on its big down day. AAPL – Call to put ratio at 1.9, quite high for such a precipitous drop in the stock. The weekly 470 and 475 calls were the …
Continue reading
MorningWord 8/22/13: Based on a quick perusal of the FOMC Minutes from their July 31st meeting released yesterday, it appears that those charged with keeping our economic ship afloat lack the visibility as it relates to the …
Continue reading
In the last few weeks the underlying themes on the global macro front have been that Europe may finally be out of the woods, China is not headed for a hard landing and the U.S. …
Continue readingWe placed a bet on CAT a week ago (below) where we wanted to position ourselves for continued weakness into its earnings event on July 24th. We gotten that weakness, with a little help from …
Continue reading
Jim Chanos just hit the tape with his latest “Pick to Click”, Short CAT. Here’s the rundown from Business Insider: And the famed short-seller’s next victim is… Catterpillar Inc. WHY? The global commodities super cycle …
Continue reading
Caterpillar has been our go-to name to play Chinese weakness. All those empty cities are meaningful as a broader sign of overcapacity, corroborated more recently by the weakness in global commodity prices as well as …
Continue readingHere is a 5 year weekly chart of FXI: The technical case is getting weaker by the day, though if FXI is due for a bounce, it’s around the 30 level I’ve highlighted in red. …
Continue reading