Over the past month, leading up to this morning’s ECB meeting and the FOMC’s December 16th meeting we have taken a look at the U.S. dollar on a couple of occasions. First vs the Euro (here on …
Continue readingMASSIVE
It’s difficult to assign exact blame for the volatility we’ve seen in U.S. stocks. There are several factors you’ll hear, most often the FOMC’s impending exit of ZIRP, falling commodity prices and the rise and …
Continue readingTwo weeks ago we placed a trade in the Chinese online travel site CTRP. The trade itself was a simple put purchase, close to the money. The idea at the time was to look to spread …
Continue readingEvent?: The Chinese online travel company Ctrip.com (CTRP) has yet to report Q4 results. Bloomberg estimates March 13th. A look a their investor relations site (here) is little help, but considering they reported their Q3 on Nov …
Continue readingThis morning I read a fairly interesting article from Reuters’ Mike Dolan Scoping the new subprime as watchdogs cry ‘bubble’ where he quotes the annual report of the Bank for International Settlements (BIS). Think the Justice …
Continue readingI know I sound like a broken record but I have to tell you that the bifurcated price action in U.S. equities leads me to only one conclusion – we are going much lower at …
Continue readingRIG is holding up well this week despite weakness in crude oil (and broader commodities, like copper) and the oil sector of the stock market. Dan highlighted the unusual activity in RIG options in last …
Continue readingOn last night’s CNBC’s Fast Money I highlighted some unusual activity in Transocean (RIG) where options volumes ran about 2.5x the average daily volume of the last month. What stood out to me was a …
Continue readingAbout a week and half ago we thought XOM was getting a bit oversold and fairly uncharacteristically made a bullish play (below) by financing out of the money calls by selling an out of the …
Continue readingBack in late November, we thought the rally in XOM from the 52 week lows, to new 52 week highs in a bout 6 weeks was largely the result of Berkshire Hathaway’s accumulation of a …
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