Trading Block: VIX finally gets to the mid-30s! The bar for has been raised. Apple without Jobs – down 0.5%. What effect could Jobs have on Apple stock post-mortem, or is this a turning point for Apple?
Odd Block:
Mortgage insurer MBIA Inc. (MBI): Shares are trading 3% higher this morning and early option activity suggests some investors believe the recent upturn in the company?s shares will continue over the next couple weeks. The bullish October 9 calls have seen nearly 5,000 contracts trade already this morning and, with 80% of the activity either mid-market or on the offers, it looks like buyers looking for the stock to rally another 16% over the next 11 trading days.
Children?s Place Retail Stores, Inc. (PLCE): The specialty retailer of children?s clothing saw greater-than-normal activity in its options this morning. It looks like one call seller populating the November contract expects the stock to resist below a specified ceiling through expiration day in six weeks. A block of 2,000 calls changed hands at the Nov. $55 strike against paltry previously existing open interest of just 20 contracts. The call options appear to have been sold by one options player for a premium of $0.85 per contract.
Xpress Block: Tim Navabi grabs the reins and discusses what was trading today at OX, as well as a rundown of some of the commodity movers. CBOE also recently unveiled SPXpm — has it been successful?
Around The Block: Nonfarms: October 7 Gold and Silver are both consolidating, something to definitely check out. Apple earnings: October 18. Google earnings: October 13
Attention Option Block fans…..do you want to see another live taping of your favorite options podcast? Yes, it’s back, and this time, it’s at the FIA Futures and Options Expo.
Register now through VolX, The Volatility Exchange and receive your complimentary Exhibits Only pass for Options Insider listeners.
In addition to enjoying the Expo, please join the The Options Insider for live radio shows.
Here’s the schedule:
October 11
4 pm – The Option Block
5 pm – Volatility Views
October 12
1:30 pm – The Long & Short of Futures Options
All shows will be recorded on the FIA Main Stage in the exhibit hall.
Live audience seating will be available on a first-come, first-served basis.
Hope to see you there!
“