November 10, 2016 Market Wrap Up

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The S&P 500 has been on a tear the last two days after it was announced that Donald Trump will be the new President of the United States of America. With that said, we’re seeing investors shift out of certain sectors into new ones. For example, infrastructure related stocks, oil and gas, medical, and banking are some sectors that have benefited early on. However, the tech space has not been as strong.

The VIX actually rose a little, but is now trading well below 15. It was just a couple days ago where we saw the VIX trade above 20.

Stocks in play today included: 58.com (WUBA) -18%, Silver Wheaton Corp (SLW) -16%, Dryships (DRYS) +126%, and Top Ships (TOPS) +22%

Crude oil futures prices sold off a little, snapping a 3-day winning streak.

On the options front, we saw large call buying activity in Union Pacific (UNP), which traded 2.5 times normal option volume. In addition, we saw heavy put buying in Asanko Gold (AKG), which saw 31.6 times normal options volume.

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

Key Earnings:
11 Nov 2016- JCP

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April 14, 2016 Market Wrap Up

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The market was relatively flat today, trading in a very narrow range. The S&P 500 traded between 2078 to 2087, closing in the middle of that range at 2082.

Despite a slow moving market, the VIX sold off a little bit, closing at 13.72.

The United States Oil Fund (USO) was down .5%, closing the day at 10.48. Crude oil is still comfortably trading above $41 per barrel.

On the options front, we saw large call buying activity in Union Pacific (UNP). In addition, we saw heavy put buying in Waddell & Reed Financial (WDR), which saw 48.4 times usual options volume.

Stocks in play included: Bofi Holding (BOFI) -16.3%, Repros Therapeutics (RPRX) +20%, and Seagate Technology (STX) -20%

Earnings tomorrow include Citigroup. Thus far, JPMorgan Chase and Bank of America have posted solid results. However, Wells Fargo did not react as well on their earnings.

Here’s what’s left this week:

Key Economic Data:
15 April 2016- Industrial Production 9:15 AM ET

Key Earnings:
15 April 2016- C, RF, SCHW