Option Block 60: Reporter Re-Education
Trading Block: Treasury Department makes more steps to prevent defaulting, market shrugs. Microsoft acquires Skype. Apple Chat: in which the gang schools errant reporters on posting nonsensical articles. SLV selloff continues with reason #487 for hedging. Cotton, corn, sugar, natural gas all up. Silver, heating oil, crude oil, rough rice, 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. Morgan Stanley (MS) – ADV = 19k, does 45k. Bulls active in June 26 calls. IMAX – ADV = 1700, does over 8k with near-term call buyer explosion in 10 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 hear what Sebastian really says before the editing? The Option Block is going to record live in front of a studio audience on July 21 at a venue TBD 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.
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