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OptionsNews
An ahead-of-the-bell look at the market's biggest stories and a review of unusual options activity. Filled with smart market analysis from the ONN.tv team, "Options News" turns the market's top headlines into trading intelligence, hosted by Karla Yeh.
The October expiration month sees heavy call buying in Nike ahead of the sports company’s first-quarter earnings today at 4:15 p.m. EST.
On today’s Options News, Carrie Long and the www.ONN.tv team look at Tuesday’s pre-market price action in the broader market, highlighted by an unchanged futures market ahead of housing and consumer confidence data.
On the close Monday, the Dow rallied 124 points to 9,789 and the S&P 500 gained 18.5 points to 1,063. The CBOE SPX Volatility Index (VIX) dropped approximately 0.6 point to 25, showing a surge in optimism among investors following positive mergers and acquisitions news circulating through the market.
Early Market Indications
Ahead of the U.S. market open, S&P 500 futures are down 1.5 points to 1,057. Hong Kong is up 2% and Europe is down 0.3%.
Call buying in Nike
Bullish investors called for more upside in Nike, which is up 30% since its March lows and bought a hefty amount of Oct. 65 calls. Nearly 6,000 of these options traded yesterday versus open interest of 2,600 contracts. Nike is announcing earnings per share figures today at 4:15 p.m. EST, and analysts expect to see a six-cent drop from last quarter to 97 cents EPS. Stay tuned to ONN.tv for the latest updates on Nike options volume and earnings figures. On the latest episode of Street Smarts, Kevin Cook gets the scoop on predictability and confident trading from Jeff Quinto of ElectronicFuturesTrader.com. Be sure to tune in today!
ONN.tv continues its Wednesday webinar series tomorrow. Join Kevin Cook and Larissa Miller for part two of Sector Rotation Strategies and Lessons. Be sure to sign up by clicking on the webinars tab at www.onn.tv to reserve your spot. Sign up now – spots fill up quickly!
For more breaking news and investment pointers on the options market, stay tuned in to ONN.tv.
