Trading Block: Finally a strong rally across the board. Vol and VIX rundown. CBOE announced at RMC Europe that they are hoping to trade VIX futures around the clock next year. Amazon announces new Kindle devices today, including Kindle Fire HD and new Kindle Fire for $159. Apple poised for a big announcement next week, looking for the new iPhone and perhaps the Mini-iPad. Ford on an upwind today, up about 3.5%. Odd Block: Calls active as BMC Software pops (BMC); large block of calls cold on Morgan Stanley (MS); a pre-earnings bullish bet initiated on retailer, Men’s Wearhouse, Inc. (MW).Xpress: Sean Fitzgerald grabs the OX hot seat and discusses the day in trading. Happy customers over at OX, after several weeks of no volume. Trades in Ford, BAC, GLD and SPX. Strategy Block: Mike Tosaw is back with the Strategy Block, to discuss and share a story about money management. Around the Block: Non-farms on Friday, what will the response be? German constitutional court ruling next week. Apple product announcement next week.
Option Block 160: Blue Horeshoe Loves Option Block
Trading Block: Greek pro-bailout ruling was not exactly the boon the markets expected. Spanish load concerns still weighing on the market. Almost like a post-earnings throughout the market with vol coming in across the board. NAHB housing index of homebuilder sentiment highest in five years, but still below 50. The Supreme Court may rule whether Congress has the power to require people to buy health insurance. According to the bets, there’s a 68 percent probability that the law’s individual mandate will be ruled unconstitutional in 2012. Facebook reversed the trend of past week and finally closed upsize. Microsoft's secret Window 8 tablet – the new iPad killer? Odd Block: Interesting and unusual activity in Harman International Industries (HAR), Molina Healthcare Inc. (MOH), and W.R Grace (GRA).Listener Question: The dying breed of floor traders.Around the Block: With Greece in the rear view window, and Facebook rallying, we're watching S&P and gold. The VIX may be headed to 17 or lower.
Option Block 159: The 1-3.5-6 Ratio Condor Swap
Trading Block: News is out that the central banks are trying to make a coordinated effort to help out Greece after the elections. Commodity rundown – open quota unchanged. Fallout for Apple after WWDC. Nokia down 15% on news of slashing 10,000 more jobs – down 50% since April. Is this the beginning of the end for Nokia? Will Microsoft buy them? Is this another Motorola? Odd Block: Interesting and unusual activity in Tenet Healthcare Corp. (THC) and Safeway, Inc. (SWY). Xpress Block: John Grigus is back at sits down in the OX hot seat to discuss a Nasdaq/OMX memo about starting a Facebook member accommodation program. Tomorrow is expiration. Around the Block: Remember, this is expiration week! We'll have to see what happens to Nokia. Greece, Spain, Greece, etc.
Option Block 158: Mini Widowmaker
Trading Block: VIX provided most of the movement in the market. Spain concerns weigh on the market again. Analyst says JP Morgan could make an upside surprise as they disclose more about the $2 billion "hedge." Apple's WWDC doesn't budge the stock – announces new MacBooks, iOS 6, better voice, no new iPhone, and switching away from Google maps – a potential big hit for Google. Commodity/vol rundown. Odd Block: Interesting and unusual activity in Green Mountain Coffee Roasters, Inc. (GMCR), Pitney Bowes, Inc. (PBI), and Focus Media Holding, Ltd. (FMCN). Xpress Block: Tim Navabi is back in the OX hot seat and goes over what was active over at optionsXpress. Apple, SPY, and more, a grain report coming out tomorrow. Helping a few customers with spreads. Mail Block: Taking on Listener QuestionsAround the Block: June 13: PPI & Retail Sales June 14: CPI & Jobless Claims June 15: Industrial Production, Consumer Sentiment & Triple Witching Expiration
Option Block 157: We Are in a Holding Pattern Until We Are Not
Trading Block: For the second show in a row, the S&P is literally closed unchanged at 0.0%, what are the odds? The Fed pretty much stymied most activity. Have to love the Feds – says end of tax cuts is the most important fiscal event on the horizon, yet refuses to comment on whether tax cuts should stay or go. China cut their benchmark lending rate for the first time in about 4 years. VIX drifting toward the lower end of its recent range. Commodity/Metals update. Odd Block: Interesting and unusual activity in Lululemon Athletica, Inc. (LULU), Market Vectors Gold Miners Index ETF (GDX), and SPDR S&P Homebuilders ETF (XHB)Xpress Block: Sean Fitzgerald returns to the Xpress Block for the second time and discusses Facebook and its seemingly recent divorce from the public's love and attention. In other news, Starbucks will start producing for the "K-Cup" Green Mountain single cup coffee brewing system.Listener Mail: Taking on listener questions.Around the Block: Keeping an eye on Greece and The Fed.
Option Block 156: Greek Tragedy
Trading Block: The selloff eased after the bloodbath on Friday. The S&P closed almost completely unchanged today. Still waiting for the Greeks. All-time record lows in the 10- and 30-year bonds. VIX headed to 30…and beyond? A Facebook flow recap. Peak 6 gobbles up the remnants of Pension, creating a new entity, Apex Clearing Corp.Odd Block: Unusual and interesting activity in Research in Motion, Ltd. (RIMM), HollyFrontier Corp. (HFC), and Hansen Medical, Inc. (HNSN).Xpress Block: Newcomer Sean Fitzgerald gets to take hold on the OX reins and discusses the July crude oil technicals, SPX and an upcoming economic report.Around the Block: Greece, Greece and more Greece with a side of Saganaki.
PEAK 6 to Acquire Penson Worldwide? Rumor Confirmed!
Back on May 25, the Options Insider heard a rumor that PEAK 6 was acquiring Penson Worldwide. Today, it's been cofirmed and remember, you read it here first.
Option Block 155: The Long and Winding Road to Nowhere
Trading Block: Given the end of month, it was a strange seesaw-like day on the market. Facebook is actually going up, closing today at $29.53. There is a lot of opportunity in those options. Commodities movers today included crude oil, natural gas, soy meal, oats, soybeans, wheat, coffee and lumber. But who could forget about bond? Gold and silver rundown. Xpress Block: Tim Navabi takes the OX seat and talks first about the Corzine Rule being proposed for futures brokers, and then the number tomorrow. Strategy Block: Uncle Mike Tosaw's strategy and story from today are about adjustments of trades.Around the Block: Again, the big number tomorrow – if you fail to prepare, be prepared to fail. Election in Greece later this month. Check out the Facebook options survey results posted on theoptionsinsider.com
Overnight Retail Traders Start Changing Market Timing
Mobile trading has surprising affects on market liquidity say experts.
Option Block 154: When In Doubt, Roll It Out
Trading Block: More Facebook fallout – What's the situation been like at OX? Participate in our Facebook options survey, link on Options Insider. Facebook dragged other social media stock, like Zynga and LinkedIn, down with it. A low BBI with Apple over at KYO. Odd Block: Interesting and/or unusual activity in: AT&T, Currency Shares Euro Trust, (FXE), and Owens-Illinois, Inc. (OI). Xpress Block: Tim Navabi takes a seat in Xpress Block chair and discusses a call taken today by a customer looking to buy some silver futures all the way out to Dec 2015. Also, some updates on the commodities as well.Strategy Block: Mike Tosaw has the floor in this Strategy Block and talks about trading back spreads Apple.Around the Block: Facebook Options list on the 29th.
Rumor Mill: PEAK 6 Acquiring Penson Worldwide?
Rumors are pouring into The Options Insider that PEAK 6, the parent company of Options House, may have purchased Penson Worldwide at the close of business on Thursday. Stay tuned to The Options Insider for more information…
Option Block 153: Facebook Faceplant
Trading Block: The market had no real direction. The Euro got crushed and bonds had the only give back of the day. Sebastian looks at the correlation between TLT and VIX. Commodities rundown featuring gold, crude oil and natural gas.Xpress Block: Going over the tumultuous week/weekend of Facebook. What was the environment like over at OX? The financial media had a field day with the Facebook IPO. Going over the valuation of Facebook and the upcoming options on the 29th.Around the Block: Breaking news: On May 31st, the CBOE will extend the listings of their PM settled, SPX end of week options to include the following expirations: June 8th, June 22nd and July 6th. Keeping an eye on the crude inventories report. A long three-day weekend coming up.
