Trading Block: Trading on news? Bin Laden story doesn’t move market much. SLV trades down?! Profit taking on margin increases.
Odd Block: FRX – ADV = 800, does over 14k on news of being a takeover target. 6:1 call-to-put ratio. FCX – bloated earnings ADV = 93k, does over 112k, mostly in weeklys. THC – ADV = 6k, does over 37k moving on takeover speculation.
Xpress Block: SLV, SLV, SLV. Fire sale! How the exchanges deal with stop orders. Earnings plays. The importance of understanding volatility.
Around the Block: Earnings, continued. Coming up: CBOE, TESLA, AMC, GM, Garmin, Electronic Arts, Activision, Chesapeake Energy, Stone Energy. Oh, there are employment numbers, too.
Coming up at:
optionsXpress: Monthly futures outlook with Jim Wyckoff; Russell Rhoads on VIX options and futures.
Option Pit: Mark is presenting non-directional spreads with the ISE. On Saturday, there is an all day event at CBOE on trading the VIX. Sebastian’s buying the beers for Option Block listeners who show up.
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