July 2, 2015 Market Wrap Up

The S&P 500 sold off a little on the last trading day of the week. The market is patiently waiting to see how Greek citizens vote on Sunday, on whether or not they’ll accept austerity.

The VIX traded higher, settling at 16.79. As mentioned earlier this week, the VIX nearly hit 20 a couple days ago. We could see those levels again next week, if the Greeks vote no to further austerity.

In respect to energy, The United States Oil Fund was traded lower, closing at 18.93.

It will probably be worth paying attention to the currency market and precious metals like gold and silver.

On the options front, we saw bullish call buying in Discovery Communications Inc (DISCA) and AMC Networks Inc (AMCX). We also saw bearish option activity in Arm Holdings Plc (ARMH).

The markets are closed tomorrow in honor of Independence Day. From those of us here at TVC, have a happy and safe Fourth of July.