Option Block 92: Werewolves Love SLV
Option Block 92: Werewolves Love SLV
Trading Block: A sea of red in the market today - recession fears slam everything except treasuries. VIX cash gaps up yet again -- VIX futures outlook. Metals/Commodities rundown - everything down across the board, with gold down as well, but no rolling down will be taking place before the weekend. Ford below the $10 handle.
Odd Block: Yahoo! - (YHOO) Following an upgrade at Stifel, Nicolaus from ìHoldî to ìBuyî with a price target of $18.00, shares are on the plus side this morning. The analyst stated ìthe likelihood of a buyout has increased to 80%.î Looks like some folks are betting on a buyout over the next few weeks. Bank of America - (BAC) Some large option players are ìraising the white flagî in Bank of America Corp. (BAC) today with two large blocks of call options being sold on the bids and most likely closing out previous bullish positions. Perhaps most painful, someone dumped over 100k Jan 20 calls for $0.01! Covanta Holding Corp - (CVA) Stock has been hammered over the past few days. Someone thinks itís overdone and bought a size bullish risk reversal. Range Resources Corp - (RRC) Looks like those upside specs on the 70 and 75 strikes could have paid off.
Xpress Block: Tim Navabi runs down the daily goings on at OX. Today was a day for risk management. There's always a tomorrow in the market. The tools available on the OX are here to the rescue.
Strategy Block: Mike Tosaw discusses his profound belief that we will get through our current financial situation. But you need some type of plan in place for down days like today.
Around The Block: A lot of concern going into the weekend. Another good time to have some units in you back pocket. VIX option implied volatility exploded today, selling premium does not make sense. Has the bleeding stopped at Netflix for now? If you're thinking of playing in inverse ETFs or options on the ETFs, the margin requirements are tighter on the inverse ETFs. Apple held onto 400 today - a flight to safety.
About Mark S. Longo
Mark S. Longo is the founder of The Options Insider Inc. - a firm dedicated to providing free options information, education, news and analysis for options users. Whether it's on TheOptionsInsider.com, a leading online options destination; through Options Insider Radio, the world's only radio network for options users; or through a growing number of newsletters and live events, Mr. Longo continues to provide new ways to spread the word about options.Mr. Longo's analysis of the options market has appeared in a wide variety of domestic and international publications, including The Wall Street Journal, Financial Times, Reuters, Futures Magazine, and more. As one of the few industry commentators with practical options experience, he has developed a substantial following among industry veterans and newcomers looking for insight into this complex market.Mr. Longo began his career as an options trader on the floor of the Chicago Board Options Exchange.
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