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Jared Levy looks at the S&P 500 (SPY), PowerShares QQQQ Trust, and iShares Russell 2000 Index (IWM)
Jared Levy worked as a stock broker and market maker at three major U.S. exchanges and as a specialist for Fortune 1000 companies. He won an Emmy for his Wizetrade daily trader-cast videos.
ETFs Update: the SPDR S&P 500 (SPY), the PowerShares QQQQ Trust, and the iShares Russell 2000 Index (IWM)
Jared Levy Senior Derivatives Specialist, www.ONN.tv
Thursday’s "Sidewinders: Indices" episode, shot on location at the Chicago Mercantile Exchange (CME), covers notable activity in widely followed exchange-traded funds: the SPDR S&P 500 (SPY), the PowerShares QQQQ Trust (QQQQ), and the iShares Russell 2000 Index (IWM).
SPDR S&P 500 ETF (SPY)
The ETF, which tracks the S&P 500 Index, has rallied about 51 cents today. Volatility continues to contract. The July 91 straddle is trading 4.9% over strike, down from 5.3% over strike seen at last night’s close.
PowerShares QQQQ Trust (QQQQ)
The tech-rich ETF is up about 40 cents, or a little less than 1%. The Nasdaq has been leading the pack this week amid market uncertainty.
iShares Russell 2000 Index (IWM)
Up about 50 cents, a little less than 1%, with volatility contracting a bit. The November 51 buy write strategy is yielding 7.29%, slightly below the 7.94% yield on the 50 buy write at Wednesday’s close.
For more breaking news on the options market, stay tuned in to www.ONN.tv. Thanks for watching!
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