The Option Block Gang is joined by Jeff Augen, well-known options author and self-proclaimed “”most pessimistic man you will ever meet.””
Trading Block: First Solar down 3% on the day, hoping Uncle Mike is collared. Oil reserves higher than expected. Gold – new all time high. Silver up $0.45. Is there no downside to metals? People piling into commodities. Are rising commodity prices an inflation indicator? Inflation and quasi-political banter.
Odd Block: XRT – S&P SPDR Retail ETF – 80k contracts executed in a single trade – enormous 47-49-51 put ‘fly. TSN – Nearly triples ADV. Bullish sentiment as Smithfield Foods’ stock halting on acquisition news. CVS – 56k contracts with bulls looking for Apr/May pop. AXL – Does 12k contracts on ADV of ~3k.
Xpress Block: OX getting phone calls on CBOE’s credit default swaps for retail clients and Nasdaq’s new alpha options.
Interview Block: The guys interview Jeff Augen, author of Volatility Edge, Math Problems for Options Traders, Trading Options At Expiration, Day Trading Options, and Trading Realities. Trading Realities is an accessible look at what retail traders are up against in the market and how to cope with it.
Around the Block: Initial jobless claims. Alcoa earnings coming Monday. S&P 500 term structure really compressed.
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