August 16, 2016 Market Wrap Up

August 16, 2016 tvcuser Education, Trading Conferences, CREE, Crude Oil, Earnings, EGHT, HAIN, MEET, RAI, REN, S&P 500, STEM, URBN, VIX

The S&P 500 sold off from 52-week highs today on below average trading volume.

Stocks in play today include: The Hain Celestial Group (HAIN) -26%, Meetme (MEET) -16.7%, Stemcells (STEM) +598%, and Resolute Energy (REN) +3%

The VIX closed higher, up over 7% on the day at 12.64.

Crude oil futures continue to ascend higher, now up over 9% over the last three trading sessions. With that said, crude oil futures are are still more than 10% off their 52-week highs.

On the options front, we saw large call buying activity in Reynolds American (RAI) at 4 times normal option volume. In addition, we saw heavy put buying in 8×8 Inc (EGHT) at 23.3 times normal options volume.

This evening we got earnings out of Cree (CREE) -7% and Urban Outfitters (URBN) +8.8%

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

Key Earnings:
17 Aug 2016- AEO, LOW, SPLS, TGT, A, CSCO, NTAP
18 Aug 2016- BONT, WMT, AMAT, GPS, ROST, DV
19 Aug 2016- DE, EL, FL, MSG

Key Conferences:
Enercom Energy Conference (runs till 8/18)

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