Option Block 60: Reporter Re-Education
Trading Block: Treasury Department makes more steps toprevent defaulting, market shrugs. Microsoft acquires Skype. AppleChat: in which the gang schools errant reporters on posting nonsensicalarticles. SLV selloff continues with reason #487 for hedging. Cotton,corn, sugar, natural gas all up. Silver, heating oil, crude oil, roughrice, and coffee all down.
Odd Block: KongZhong Corp. (KONG) – Closes down 28%. ADV = 238, does 6500 with 6:1 puts-to-calls. IV up to 116. MorganStanley (MS) – ADV = 19k, does 45k. Bulls active in June 26 calls. IMAX – ADV = 1700, does over 8k with near-term call buyer explosion in10 minutes on news of a deal with Cineplex Theater Group./
Xpress Block: Most actively traded at OX for Monday,May 16: SPY, SPX, SLV, AAPL, QQQQ, RUT, MNX, AMZN, PCLN, BIDU. Silver….you are the biggest loser.
Around the Block: Housing starts, Dell earnings, FOMC minutes, Who will own the NYSE? Regulators weigh in.
Do you want to see the show taped live? Do you want to hearwhat Sebastian really says before the editing? The Option Block isgoing to record live in front of a studio audience on July 21 at a venueTBD in Chicago. Adult beverages will most definitely be involved. Stay tuned for details….
Coming up at….
Option Pit: Free webinar on pre-expiration Wednesday on Adjusting Butterflies. Go to optionpit.com for more information.
optionsXpress: Columbus event from 8-4 on 5/21. Webinars: Trading income strategies on 5/18, 5/20, 5/25, and 5.27. Charting for new traders on 5/24. How to trade 24-hour markets on 5/24.
Options Insider: TONS of OIC content coming…look for it on TheOptionsInsider.com, or in iTunes.”