April 14, 2016 Market Wrap Up
The market was relatively flat today, trading in a very narrow range. The S&P 500 traded between 2078 to 2087, closing in the middle of that range at 2082.
Despite a slow moving market, the VIX sold off a little bit, closing at 13.72.
The United States Oil Fund (USO) was down .5%, closing the day at 10.48. Crude oil is still comfortably trading above $41 per barrel.
On the options front, we saw large call buying activity in Union Pacific (UNP). In addition, we saw heavy put buying in Waddell & Reed Financial (WDR), which saw 48.4 times usual options volume.
Stocks in play included: Bofi Holding (BOFI) -16.3%, Repros Therapeutics (RPRX) +20%, and Seagate Technology (STX) -20%
Earnings tomorrow include Citigroup. Thus far, JPMorgan Chase and Bank of America have posted solid results. However, Wells Fargo did not react as well on their earnings.
Here’s what’s left this week:
Key Economic Data:
15 April 2016- Industrial Production 9:15 AM ET
Key Earnings:
15 April 2016- C, RF, SCHW