July 21, 2016 Market Wrap Up | TVC Trading Education Courses

July 21, 2016 tvcuser Education, Trading CMG, Crude Oil, Earnings, HUM, JAZZ, JOY, KONE, LUV, OPTT, PFPT, PYPL, RLYP, S&P 500, SBUX, VIX, ZFGN

The S&P 500 closed slightly lower today as we treasuries and gold catch a bid. In addition, the Dow Jones Industrials snapped its nine day winning streak. Early in the morning there were two deals announced. First, Komatsu made a bid to buy Joy Global (JOY) for $2.9 billion. The second was in the biotech space; Galencia made a bid to buy Relypsa (RLYP) for $1.53 billion.

Stocks in play today include: Ocean Power Technologies (OPTT) -32%, Kingtone Wirelessinfo (KONE) +325%, Southwest Airlines (LUV) -11%, and Humana (HUM) +8%.

The VIX finally caught a bid today, closing 8% higher at 12.74.

Crude oil futures dropped about 2%, closing below $45 per barrel.

This evening we got earnings out of Paypal Holdings (PYPL) +1.9%, Starbucks (SBUX) -3.2%, Chipotle Mexican Grill (CMG) -1.7%, and Proofpoint (PFPT) +4.8%

On the options front, we saw large call buying activity in Jazz Pharmaceuticals (JAZZ), which traded 14.2 times normal volume. We also saw a ton of bearish bets being placed in Zafgen (ZFGN), which traded 9.6 times usual volume.

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

Key Earnings:
21 July 2016- ALK, BBT, BIIB, BK, BX, DAN, DHI, DNKN, DPZ, DOV, GM, HBAN, JCI, LUV, PHM, UN, UNP, AMD, CMG, ATHN, COF, FLEX, P, SBUX, SLB, SWKS, SYK, T, V
22 July 2016- GE, HON, SWK, SWN, SYF, TXT, VFC, WHR

Be sure to check out our Active Trading Masters Program | Online Courses