Option Block 97: Live From FIA Chicago
Option Block 97: Live From FIA Chicago
Trading Block: VIX Rundown - VIX at a decisive point, at the 32 level, it could be on the move. Apple rallying post-Jobs -- how best to position going into earnings. Alcoa came off after the bell already selling off. A look at upcoming earnings season perhaps? SPXpm -- comments and criticisms.
Odd Block: Integrated circuit maker Marvell Technology Group Ltd. (MRVL) with a multi-exchange sweep of 5,000 October 16 weekly calls. Short-term bulls gobbling up weekly calls.
XLF ñ Financial Select Sector SPDR (ETF). The XLF has rallied 9.2% in the past week, but impending earnings from big banks spurred some strategists to snap up bearish put options on the ETF. Bears looking to hedge their bets in XLF ahead of earnings season with short-term puts.
Listener Questions: Impact of Weekly Options on Brokerage Firms.
The ongoing narrative of weekly options says that they are a boon to the options business, and to options brokers, because they are prompting many customers to trade 4 times a month vs. once a month. I'm curious if the boys at OX can confirm this trend with what they've seen internally? I'd imagine this isn't the case for premium buyers, but I'd think that premium sellers have certainly increased their trading due to the weeklies. Is it 2X, 3X, 4X, perhaps some other factor like 1.8X, etc. Any insight you could provide into this would be appreciated.
Around the Block: Earnings, Earnings, Earnings! AAPL & BAC next week. Also, Jobless Claims - 10/13, Retail Sales & Michigan Sentiment - 10/14.
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