New Trade May 15, 2013: I just wrote about the VIX in my Snapshot post from today, included below. I also traded a VIX structure last month, targeting May VIX, which I plan to leave on for now, but … [Read more...]
$VIX Futures Snapshot – VIX Higher with SPX Higher
1:54 pm EDT - May 15, 2013 By Enis
I've received many questions in the past 24 hours about why the VIX is going up even as the SPX index continues to make new all-time highs. Here is what I wrote last month in my VIX trade post about … [Read more...]
MorningWord 5/10/13: Taking A Quick Look Under The Hood – $XLU, $XLP
8:51 am EDT - May 10, 2013 By Dan
MorningWord 5/10/13: Another week, another weekly new all time high. Yesterday's close in the SPX of down 37 bps was only the second decline of the month, but came on a day that saw some … [Read more...]
Vol Around the World – Volatility of All Global Equity Indices Near Lows
2:00 pm EDT - May 9, 2013 By Enis
While the 3 month volatility in the SPX has been solidly below its 52 week average for all of 2013, the volatility metrics for the other global indices have popped higher on occasion this year. But … [Read more...]
MorningWord 5/9/13: Bull in a China Shop
9:13 am EDT - May 9, 2013 By Dan
MorningWord 5/9/13: Every small dip in the market is being bought. It's just that simple. Over at RiskReversal HQ we have a little snarky saying every time we see a 5 handle sell off in the SPX, … [Read more...]
$VIX Futures Snapshot – VIX Lower On Quiet Week, But Resilient
2:10 pm EDT - May 8, 2013 By Enis
The VIX price action in the past 2 days has been noteworthy. The SPX has made new all-time highs in a grinding fashion on each trading day so far this week, but the VIX is actually higher on the … [Read more...]
Vol Around the World – Global Vol Moves Lower as SPX 1600 Approaches
2:01 pm EDT - May 2, 2013 By Enis
With the SPX making a new all-time high today, how has the vol market reacted in the past week? Equity implied volatility is back near the 52 week lows in the U.S., while global equity vol has not … [Read more...]
$VIX Futures Snapshot – VIX Holding Up Even Near SPX 1600
10:50 am EDT - May 1, 2013 By Enis
The VIX has not moved much lower in the past week, despite SPX getting very close to 1600 on last night's close. Part of it is due to higher realized volatility on a one month basis, but a major … [Read more...]
New Trade $DIS: It’s A Vol World After All
1:56 pm EDT - April 26, 2013 By Dan
Here is a preview of what I will be discussing tonight on Options Action on CNBC at 5:30pm est: In a stock market that screams BULL, there have been few large cap stocks that have performed as well … [Read more...]
Vol Around the World – Vol Correlation Quite High
12:19 pm EDT - April 26, 2013 By Enis
Calmer markets have returned. Even though it's been a low volatility environment for essentially all of 2013, the correlation of volatility has been quite high. That's to say, vol has risen … [Read more...]
MorningWord 4/26/13: Healthy Rotation Or Failing Leadership? $QCOM, $SPX
9:15 am EDT - April 26, 2013 By Dan
MorningWord 4/26/13: The SPX's strong performance out of the gate in 2013, despite early fears of fiscal cliff, sequestration and questions regarding the strength of the global recovery have made it … [Read more...]
Macro Wrap – The Good, The Bad, and the Ugly
8:19 am EDT - April 25, 2013 By Enis
As the SPX approaches new highs, mixed signals abound. The most positive driver is continued global monetary easing, currently led by the U.S. and Japan, and many expect the ECB to join the party … [Read more...]
Chart of the Day – Are Defensives Enough to Carry the SPX
11:47 am EDT - April 24, 2013 By Enis
A fellow trader suggested to me yesterday that the outperformance of the defensive sectors was no sign for concern for the broader market. He said that he only becomes concerned about defensive … [Read more...]
MorningWord 4/23/13: $SPX vs The World, Flight to Quality Still in Full Effect
9:22 am EDT - April 23, 2013 By Dan
For those that missed our Webinar on AAPL's earnings here's a link to the recorded version: https://attendee.gotowebinar.com/recording/4615196009414955008 MorningWord 4/23/13: The SPX … [Read more...]
MorningWord 4/22/13: $SPX Charting – Trend Channels, Volatility & Venus Fly Trap Thingys
8:57 am EDT - April 22, 2013 By Dan
Reminder: Enis and I will be Hosting a Free Webinar Tonight at 4:15pm EST previewing AAPL’s Q2 earnings report and we will debate options trade structures that we are considering to play the … [Read more...]
Vol Around the World – Commodity and Currency Volatility Now Above Average
Volatility in all asset classes has ticked up in the past week, but the real movement has been outside of the stock world. I discussed in yesterday's VIX Snapshot some potential reasons why equity … [Read more...]