June 15, 2015 The Week Ahead

Now, the S&P 500 ended Friday’s action on a weak note. However, it is relatively at the same price as it opened up on Monday. This week the market will be paying close attention to what happens out of Greece.

In addition, they’ll be watching what comes out of the Federal Reserve Meeting, and their announcement on Wednesday. The market would like better clarity on what date the FED has set out to start hiking rates.

The VIX is slightly below the 14 level; however, on Friday, we did see it gain over 7% and close at 13.78.

Crude Oil futures traded north of $60 for most of the week; however, they closed below that level on Friday.

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June 11, 2015 Market Wrap Up

The S&P 500 is on a 3-winning streak, continuing strength from yesterday’s 1.2% move higher. However, volume was relatively light.

The VIX is now below 13, closing the day at 12.85.

In respect to energy, The United States Oil Fund was relatively flat, closing at 20.49, which was less than a 1% move.

On the options front, we saw bullish call buying in Amicus Therapeutics Inc (FOLD) and CSX Corporation (CSX). In addition, we saw some bearish put buying in Texas Instruments Incorporated (TXN).

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June 9, 2015 Market Wrap Up

The S&P 500 closed slightly higher on a relatively quiet day. Still no word out of Greece, but for now, the market anticipates a favorable resolution.

The VIX hit an intraday high of 15.74, but eventually sold off, closing at 14.47.

In respect to energy, The United States Oil Fund was relatively strong, closing at 20.21, which is good for 2.5% move.

On the options front, we saw bullish call buying in Activision Blizzard (ATVI) and Colgate-Palmolive Company (CL)

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June 7, 2015 The Week Ahead

The S&P 500 has been stuck in a range for sometime now. The market is still uncertain on how things in Greece will play out. In addition, they’re watching economic numbers to get a feel on when the Federal Reserve Bank will actually start to raise interest rates.

The VIX is slightly above the 14 level; however, on Friday, we did see it drop over 3% and close at 14.21.

Crude Oil futures hit 3 month highs earlier in the week; however, they closed below $60 per barrel. Coming into the OPEC Meeting the market was anticipating an increase in volatility. That didn’t really happen, as crude oil futures prices rose less than 2% on Friday.

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June 4, 2015 Market Wrap Up

The S&P 500 closed the day relatively weak. It appears the market is still waiting to see what kind of resolution will be coming out of Greece. Any hints of a resolution would probably drive the market higher; however, any news of the deal falling apart would probably push market prices lower.

In addition to Greece, we’ve got the results of an OPEC meeting tomorrow.

The VIX rose steadily today, closing above 14, at 14.71. However, we hit a high of 15.49 on the VIX earlier in the session.

In respect to energy, The United States Oil Fund was down nearly 3%, closing at 19.58. Looking forward, the energy names might see some increased volatility ahead of the Opec Meeting. Right now, the at-the-money straddle in USO is implying a 3.3% move for tomorrow.

On the options front, we saw bullish call buying in Juniper Networks Inc (JNPR), NetApp Inc (NTAP), and Cavium Inc (CAVM). We also saw bearish option activity in Cummins Inc (CMI).

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June 2, 2015 Market Wrap Up

The S&P 500 closed the day relatively lower, on a very choppy tape. Over the last two days we’ve seen a lot of whip saw type action from the market. It appears the market is waiting for what comes out of Greece. Any hints of a resolution drives the market higher; however, any news of the deal being far away, pushes market prices lower.

In addition to Greece, we’ve got an OPEC meeting and jobs numbers coming out this week.

The VIX rose steadily today, closing above 14, at 14.24.

In respect to energy, The United States Oil Fund was up nearly 2%, closing at 20.68. Looking forward, the energy names might see some increased volatility ahead of the Opec Meeting.

On the options front, we saw bullish call buying in Hewlett Packard Co (HPQ) and TransCanda Corporation (TRP).

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May 31, 2015 The Week Ahead

Now, the S&P 500 ended Friday’s trading slightly lower on weak volume. However, we did close the month higher.

The VIX is slightly below the 14 level; we’ve been in between the 10 to 15 range for a couple months now.

Crude Oil futures are near their 3 month highs, closing slightly above $60 per barrel. In fact, they’ve risen on a weekly basis for two straight months now. It will be interesting to hear what comments come out of the OPEC Meeting this week. Of course, this could add some of additional volatility in the energy sector.

In respect to earnings, the level of excitement is starting to die down. However, there are a number of key conferences this week. With that said, positive or negative notes coming from these conferences have the potential to move stock prices in companies mentioned.

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May 29, 2015 Market Wrap Up

The S&P 500 closed relatively weak today, on increased volatility. Some market pundits attributed the move to weaker than expected economic numbers. In addition, market participants are awaiting how the Greek debt situation will play out.

The VIX shot up nearly half a point, closing above 13.84.

In respect to energy, The United States Oil Fund was up 4%, closing at 20.36. Looking forward, the energy names might see some increased volatility ahead of the Opec Meeting.

On the options front, we saw bullish call buying in PepsiCo Inc (PEP) and Heron Therapeautics Inc (HRTX). In addition, we saw bearish put buying in Trinity Industries Inc (TRN) and Express Scripts Holding Company (ESRX).

May 26, 2015 Market Wrap Up

The S&P 500 closed significantly lower, on increased volatility. Some market pundits attributed the move to a strengthening U.S. Dollar and greater uncertainty coming out of Greece.

The VIX shot up nearly 2 points, closing above 14.

In respect to energy, The United States Oil Fund was down 3%, closing at 19.68. In addition, option volatility spiked in USO options, rising nearly 4 points and closing at 33% IV (for the 30-day at-the-money options).

On the options front, we saw bullish call buying in Merck and Co Inc (MRK) and Cameco Corporation (CCJ). In addition, we saw bearish put buying in Trinity Industries Inc (TRN).

Here’s what’s on tap for the rest of the week:

Key Economic Data:
28 MAY 2015- Jobless Claims 8:30 AM ET
29 MAY 2015- GDP 8:30 AM ET

Key Earnings:
27 MAY 2015- PANW, DSW, KORS, TOL, TIF, VALE, COST
28 MAY 2015- ANF, EXPR, SIG, DECK, GME, OVTI, PSUN, SPLK, ULTA, AVGO, SAFM

Key Conferences:
27 MAY 2015 (runs till 5/29)- KeyBanc Industrial, Auto, Transportation Conference
27 MAY 2015 (runs till 5/28)- Re/Code’s Code Conference
27 MAY 2015 (runs till 5/29)- Bernstein Strategic Decisions Conference
27 MAY 2015 (runs till 5/28)- Citigroup Global Consumer Conference
27 MAY 2015 (runs till 5/28)- Cowen Technology, Media, Telecom Conference

May 25, 2015 The Week Ahead

First off, we’d like to wish you a happy Memorial Day. With that said, the markets are closed today, which means the trading week will consist of four days.

Now, the S&P 500 ended Friday’s trading slightly lower on weak volume. However, we are still sitting on near all-time highs.

The VIX is still below the 12.5 level, indicating that market players have become complacent.

Crude Oil futures are near their 3 month highs, closing slightly below $60 per barrel. In fact, crude oil futures have risen on a weekly basis for two straight months now.

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