New Post @ iBC - The Peanut Gallery
The regular daily post with put/call ratio & other unusual options activity (from Friday). Plus a few random links from the weekend.
3 years ago
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Call buyers were out in-force and pushed today’s reading down to 1.05 - back into chop/continuation territory.
Virtual trading activity off this indicator saw us get stopped out of the Apr09 88. puts @ $2.32/contract (a loss of 40%) and at the same time initiate a May09 84. call position @ $4.10/contract.
Individual Items:
- JPM earnings turned out to be somewhat of a non-event, resulting in only a 3% gain, when options had 8% priced-in.
- Similar move was expected for GOOG - almost got it AH on the pop, but the stock is now back down to where it closed.
- Buyout rumors: CI, NUAN, PALM, VMC
- VIX closes at a fresh 6-month low. Read into what you will, but remember all this technically means is that the options market expects a relatively low amount of volatility for the next 30 days. A more ‘stable’ market, so to say.
- Large volume in ELNK puts, most of it 1 trade - a (reverse?) calendar spread with Apr/May 7.50 puts (perhaps a bet against earnings on the 28th?)
