Option Block 45: Charles In Charge
- Trading Block: Ford; RIMM earnings; April vol & skew getting crushed – perhaps too much heading into the weekend; the foolishness of rushing into a stock ahead of earnings; do asset managers offer any real value.
- Odd Block: Sizeable defensive activity in Sandridge Energy (SD); Charlie Sheen protective puts in CBS; Bizarre bullish activity in BioMimetic Therapeutics (BMTI)
- OX Block: Charles in charge was an awesome show; OX customers love writing BIDU puts; Time to get into wheat? It’s far more liquid and viable for retail than oats, sugar, cotton and many other ags; Schwab/OX has sparked a resurgence of anti-options articles in the media.
- Around The Block: Will traders continue to hammer spx downside going into the weekend? Good time to buy protection?; Apple vol returns, but it’s expensive to keep rolling your downside puts every month.