Feb 28, 2014
Option Block 317: The Old Goldman Bait and Switch
Trading Block: A mild rally on the street today. JCPenney on the move, jumping as high as 26%, its greatest one-day percentage gain in least 30 years! Tesla announced on Wednesday its big expansion plans will be partially funded through a $1.6 billion bond issue. Goldman’s investor day study.
Odd Block: Call buyers in American Axle and Manufacturing (AXL), both calls and puts trade in CBL & Associates Properties, Inc. (CBL).
Xpress Block: Some hedging going on: VIX call buying, SPDR put buying. Customers seem to be getting nervous.
Mail Block: The all-stars will take your questions now.
Around the Block: There is a disconnect between realized and implied vol. Russian tough talk. SPX closing high…why can’t people accept the market at this level? Is it time to sell S&P? Volatility in the sovereign debt market is astounding. Astounding!