Economic calendar features jobless claims and import/export price data.
Friday features the release of the Producer Price Index. With all the talk and nervousness about inflation, the inflation theme will no doubt be front and center again tomorrow.
Earnings are coming Thursday afternoon from a variety of companies including Lam Research (LRCX), and Pier One Imports (PIR).
It looks like speculators are starting to catch 'that great downey feeling' by purchasing options in Downey Financial (DSL), but maybe the feeling isn't so great. The May puts were especially active. Out of the money May 55 put volume totaled 1,588 contracts eclipsing open interest of 1,329 contracts. Nearly 1,800 May 60 puts also traded. However, it wasn't a complete put sweep since nearly 2,900 May 65 calls traded as well vs open interest of 403. So the volume was unusually heavy in DSL options as investors wonder when the company will announce the release date for March quarter earnings.
I now have put positions in CFC, WM and BPOP. It looks like DSL will be next.