August 6, 2015 Market Wrap Up

The S&P 500 closed lower today, now making four out of the last five trading sessions. We’ve seen several companies in various sectors, specifically, media, technology, and healthcare report bad earnings.

We saw weakness in Walt Disney Company, Comcast, Time Warner, Starz, and Twenty-First Century Fox. In addition, the Ishares Nasdaq Biotech ETF (IBB) was down over 4%.

With that said, it was no surprise to see the VIX jump over 10%, closing the day at 13.77. Now, a 13.77 VIX is not exactly screaming panic, we would need a further sell-off for that to occur.

On the options front, we saw bullish call buying in Diana Shipping Inc (DSX). We also saw bearish option activity in Broadcom Corp (BRCM).

The energy complex held up, considering the weakness we saw in other areas in the market. We saw some strength in XOM, CVX, and OXY to name a few.

Here’s what’s on tap for tomorrow:

Key Economic Data:
7 August 2015- Employment Situation 8:30 AM ET

Key Earnings:
7 August 2015- CVC