Macro ETF’s dominated options volume given the FOMC announcement yesterday. The VIX closed down 15%, and the SPY ETF actually traded its highest single day volume since June (and one of the highest in 2013). …
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1. XLF – Short dated call volume continues to dominate the flow. The Dec 27th weekly 21 calls continue to be bought as over 100,000 traded today with lots trading for .43, after yesterday’s action that …
Continue reading1. GM – stock was up almost 4% today just before noon on news that Kyle Bass, the hedge fund manager who runs Hayman Capital took a stake in the stock and sees “at least …
Continue reading1. BAC – stock broke out to a new 52 week high today, now up almost 13% from the Nov 7th lows of this month. The most active options line was the Jan 15 calls …
Continue reading1. EBAY – the stock had its worst day in a month, quickly touching a very important technical support level at $50, a number it has bounced off of on 5 occasions this year. About …
Continue readingMorningWord 9/27/13: Its kind of ironic that as the Feds are in the midst of a massive hedge fund insider trading crackdown, one of the largest “insider” trades happened in plain site for all …
Continue readingMorningWord 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 …
Continue readingWhen I opened this JCP Aug17, Aug 23rd 14 call calendar more than a week ago I was targeting a move back towards $14 with one trading day to their highly anticipated Q2 earnings Tuesday …
Continue readingMorningWord 8/13/13: In my time in this business I have seen some pretty interesting dust-ups between activists and the the companies that they target. Guys like Dan Loeb of Third Point used to amuse market …
Continue readingMorningWord 8/8/13: Yesterday I wrote a post on JCP (here), where I detailed a few of the issues troubling the beleaguered retailer on the fundamental front, but also that the stock’s 23% decline in …
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