TRADING BLOCK
We got a little bit of insight into the trade war – no new tariffs.
North Korea stole all the trade war thunder over the last weekend.
S&P had best June performance since 1955.
MU up around 6%
Financial (XLF) and China (FXI) ETF’s up on trade news and bank stock buyback announcements.
NVDA, MU, AMD, (Chip makers and trade talks) AMZN,& AAPL – no surprises, often on the list of most traded.
Most active indices – VIX: 366k, SPY: 1.7M, SPX, 720k
Most active equity options – AAPL, BABA, MU, TSLA, AMD, BAC, FB, NVDA, T, MSFT
ODD BLOCK
Covered calls in Element Solutions Inc (ESI)
Put love in Domtar Corp (UFS)
Call love in (BP)
MAIL BLOCK
Question from Fidelity Customer – I bought some puts for a hedge and now they’ve lost 90% of their value, should I just close them out?
Question from Jigs – What is the coolest tool that Fidelity offers for options traders?
Question from WAWL – I like when you guys talk old-school WWE on the show. I know the stock was one of the best performers of last year but is now about 30% off its high. How are the options shaping up these days? Also when are the mini metals making a comeback?
AROUND THE BLOCK
This Week in the Market:
Jul 1 – Construction Spending
Jul 3 – International Trade, Jobless Claims, Factory Orders
Jul 5 – Unemployment, Fed Balance Sheet