June 15, 2017 Market Wrap Up
We saw a broad market sell off today in all major indices. However, volumes were below average, a day after the FOMC decided to raise the key interest rate. That said, we should see some added volatility near the close as tomorrow is Quad Witch and the quarterly rebalance of the S&P 500.
The VIX moved up 2.44% higher, closing at 10.90.
Index ETF movers: SPDR S&P 500 ETF (SPY) -0.19%, iShares Russell 2000 (IWM) -0.51%, SPDR Dow Jones Industrials Average ETF (DIA) -0.07%, and PowerShares QQQ ETF (QQQ) -0.44%
Commodity and futures related ETF movers: United States Oil Fund (USO) -0.54%, iShares 20+ Year Treasury Bond (TLT) -0.16%, SPDR Gold Shares (GLD) -0.42%.
On the options front, we saw large call buying activity in AK Steel Holding (AKS), which traded 3.4 times normal option volume. In addition, we saw heavy put buying in Depomed Inc (DEPO), which traded 4.0 times normal option volume.
Key Economic Data:
16 June 2017- Housing Starts 8:30 AM ET
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