February 5, 2015 Market Wrap

The S&P 500 had it’s 3rd +1% daily move for the week closing at 2062.52. One could argue that the recent runup is attributed towards the idea that the EU will be able to maintain control on the financial crisis in Greece. However, the situation is capable of turning on a dime, and therefore, adding uncertainty back into the market.

The VIX continued it’s drop today, closing at 16.85, good for an 8% decline.

The crude oil market has been extremely volatile this week. The daily moves this week look like this so far: Monday +2.89%, Tuesday +7.02%, Wednesday -8.67% and Thursday 4.19%. It wouldn’t be surprising if we continue that trend tomorrow. Equity traders are participating in this trade by playing energy companies, airline companies, and ETFs, just to name a few.

After the close we had earnings from: Pandora (P) -19.59%, Twitter (TWTR) +9%, GoPro (GPRO) -15%, LinkedIn (LNKD) +7.7% and Yelp (YELP) -10%

On the options front, we saw bullish flow in CTIC and bearish option flow in VAL.

Economic data that traders will be watching is the Employment Situation at 8:30 AM eastern.