Implied Vol

The market greets WMT

Not much to write about today.  The biggest news is that the NFL might review its “take a knee” policy and that as you know would overshadow any economic news.  I did find headlines about the Chinese government taking an “active” role in the big Chinese internet companies and I am thinking long term that cannot be good.  BABA and BIDU were both done a bit after torrid runs.  My story for today is WMT because it broke the 3 day rule I just wrote about and what the heck I own it too.

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The VIX tells the story again

The NFP number was pretty good by most accounts.  If we did not have the Euro issues, one would almost think the USA was getting back in the swing.  Lower deficits, low rates with job and wage growth is looking pretty good right now.  The problem is almost too good.

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GOOG Earnings Over Reaction

Google taught my options mentoring students a nice lesson on getting long premium into earnings; it usually pays to play the day before earnings, not the day of.  Because the ATM straddle that was purchased on Wednesday was a huge winner, while the ATM straddle purchased yesterday was a loser.  Thankfully, most students actually had on the long calendar we looked at during the pit report, so they all came out ahead.

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