May 1, 2015 Market Wrap Up

The S&P 500 rallied strong after yesterday’s sell off. Despite the run up in the market, they ended the week lower.

It was a fairly slow day unless you traded off headlines. One stock in play was YUM Brands Inc. (YUM). The stock price spiked nearly 7% after Dan Loeb’s Third Point announced that they were taking a major stake in the company.

Yesterday’s fear was forgotten. The VIX practically collapsed, it was down over 12%, closing at 12.70

Crude oil futures closed the day relatively flat; the United States Oil ETF (USO) settled in at $20.40.

On the options front, we saw bullish call buying in Aercap Holdings NV (AER) and CSX Corporation (CSX). Bearish option bets were made in Rockwell Medical Inc. (RMTI).