Option Block 57: Silver Apocalypse
Trading Block: Umemployment claims up; earnings coming out favor premium sellers: Tesla, CBOE, GM. SLV can go down. Silver and crude liquidations due to rising margins.
Odd Block: Eastman Kodak (EK) – ADV = 14k, inflated by earnings, does over 72k. EK is #27 on the list of top short names. Put on your shorts? What will the next darling of the high freq crowd be after the Citi reverse split? SLV does 10x ADV with equal amounts of calls and puts. Interesting volume in XMP on a bearish put fly. NVDA – explosion in put activity in the weekly puts. 3:1 put-to-call ratio.
Xpress Block: Tim takes on a listener question about cross margining SLV options with the big silver futures.
Around the Block: Non-farm payrolls. SLV and silver futures.
Coming up at:
Know Your Options: Unclie Make will be at the Physicians Express blood drive on 5/14 in St. Charles. Stop by to say hello.
Option Pit: Mark has a new contest on, the “Option Pit Ridiculous Claim”” contest. Send the most ridiculous email or ad you have seen/received claiming extraordinary gains with little effort and you’ll win a great prize. Send them to mark@optionpit.com
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