Trading Block: NFLX earnings out with little fanfare, but the gang reports in real time. Commodity run down: SLV – tons of volume, time to be careful. VIX increased, but forward vol fell. GVZ in badwardation.
Odd Block: Network Appliance, Inc. (NTAP) – ADV = 13k, does 30k mostly long dated trades on an outperform upgrade. Goodyear Tire (GT) – Bulls flock in ahead of earnings. ADV =6500, does 22k with a 6:1 call-to-put ratio. Bon-Ton Stores (BONT) – ADV=160 contracts, does 6500. Possible LBO in the future?
Strategy Block: The group takes on the runaway upside in SLV.
Around the Block: Earnings! For and optionsXpress before the Tuesday bell, AMZN after the close. MSFT Thursday. Oh yeah, and an FOMC meeting, too.
Coming up at….
Know Your Options: Webinars to introduce new people. Sunday webinar at 9:30 p.m. EST – Option time frame selection. Monday webinar at 9:30 p.m. EST – Strike price selection
Option Pit: Wednesday Mark is presenting a webinar for TheStreet.com on using the VIX as a hedging product. Next, he’ll be in Naples, FL on Thursday. On 5/7, Mark will present a webinar with The Options Insitute on trading the VIX. Show up in Chicago, and Sebastian will buy the beers.
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