earnings

A Chip in the old BLOX

 

 Stocks moved sideways again yet found a way to make a new all-time high in the SPX.  Not every stock was so lucky.  Take Infoblox Inc (BLOX) for instance.  BLOX came up on a volume screen and spent a good part of the day in the basement.   For a stock that traded near $50 this year the fall was humbling.

3D charts by OptionVision and ORATS

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AAPL Says Take That Straddle Sellers

This is why we don't sell cheap straddles:  We noted yesterday that AAPL IV was at extremely low levels into its earnings announcment today.  Looking at a two year chart of AAPL 30 day IV one will notice this was the cheapest IV has been over that period of time.

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LivevolX (r) www.livevol.com

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Will the AAPL IV ever stop declining?

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There was another nice little rally today on the back of some decent earnings reports.  The tech end of the market has largely shrugged off the GOOG earnings and is looking forward to FB and MSFT.  Note how I did not mention AAPL.

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Volatility is starting to sag

CHECK OUT THE NEW GOLD COURSE!

Two days in a row of small moves is enough to give the most die hard juice buyer indigestion.  The volatility of VXX options is now sub-50, 30 days out.  For VXX, peaking around $46 a few days ago, the vol ETP is sliding toward $40.  A level it has not been able to stay below since January, before the emerging markets crisis.  Do you remember that?

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Looking for a pre-earnings play

The market is kind of poking along in an upward fashion.  With most global news ok, there is not a big reason to sell off yet.  The gloomy unemployment reports are keeping the hopes of cheap money alive for the short term.  On Wednesday afternoon, I was running a normal scan getting ready for our Platinum class at Option Pit where we take a deeper dive into specific trades.

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FB skew looking like a new solar constellation

Originally I was going to call the FB skew the Big Dipper but the shape of the curve is the other way.  We had a little sell off today as the market finally ran out of helium and started to focus on fundamentals.   FB was no different.  After being a poster child for IPO busts FB has launched way above the low 40’s and is looking for new heights.

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Skew inversion for FB

Today we have another sleepy day moving into the weekend.  As I write this VIX Is up about .18 to 13.15 but probably will not be there for long with the volatility futures hovering just up for the day.  As catalysts go, the consumer confidence number hit a 6 year high and that did not do much to push the market into higher territory.  My closet theory is the US budget talk is coming again and there has been a solid two year history now of how destabilizing that patter can be.  The current back and forth is not what I would call a bullish conversation.  The

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AAPL is the new MSFT!

Back in the old days before the 3rd QE and Mario Draghi promised to support the Euro the SPX was trading 1329 and the market had one star, AAPL.  Today feels like old is new again with AAPL lovers back after a not awful earnings report and pretty much everything else down.  Gold, bonds, oil and stocks in general all are taking a breather from the recent run and the lack of great news locally gave investors pause.  The strange thing is that Europe actually rallied today on a pickup in demand.  For whatever reason AAPL was again the star and the post earnings

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