March 10, 2016 Market Wrap Up

Education, Trading , , , , , , ,

We had an extremely volatile day in the markets today. Things really got interesting after the ECB announced that they would be doing more in the form of QE to try to stimulate the economy. With that said, the DAX got hit with a 2.3% drop.

The SPDR S&P 500 (SPY) had a low of 197.38, a high of 201.07, closing relatively flat at 199.54.

Oil was relatively flat. The United States Oil Fund (USO) closed the day at 10.04.

The VIX closed above 18, down 1.58% on the day.

On the options front, we saw large call buying activity in PHH Corporation (PHH). In addition, we saw heavy put buying in Rackspace Hosting (RAX), which was 2.1 times usual options volume.

Stocks in play included: J2 Global (JCOM) -19.5%, Barrett Business Services (BBSI) -35%, and Williams Companies (WMB) -8.3%

There are no key events on the schedule tomorrow.

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