I've been out to elementary school holiday related events today, but there's been plenty to trade on via my Motorola Q phone. In the retailing realm, JC Penney calls have been active on LBO speculation. WWD is talking about the possibility that Eddie Lampert might be eyeing the Gap.. perhaps even BUD, or even HD. I find that hard to believe, but ok. American Express (AXP) has been very active on Citigroup (C ) speculation, but that seems to be Chuck Prince comments that have been taken out of context. The AXP Dec60 call holders are thanking their lucky stars none-the-less. Worthington (WOR) has also been flying high on more steel sector speculation as well with the Jan20 calls presenting a fast profit opportunity this morning.
The VIX has fallen down to the 9-3/4's range.... I'll have more on that. At some point that is going to translate into market pain... off in the distance I already hear Dr. Zach Smith cries of "oh, the pain", and the robot yelling, "danger, danger, danger", with arms swinging. Likely in the new year this will also mean a good call options play in the VIX as well... perhaps even sooner.
In the meantime, I'm off to lunch with my son for a job well done at the 1st grade play... we're off to the Mason Jar in Mahwah, NJ http://www.masonjar.com/.
No comments:
Post a Comment