April 28, 2015 Market Wrap Up

We saw some decent volatility in the market today, however; the S&P 500 saw an early morning sell-off transition into late buying by the close.

With the sell-off losing steam, the VIX fizzled as well. However, it did hit a high of 14.23 before closing at 12.41.

Crude oil futures closed the day relatively flat; the United States Oil ETF (USO) settled in at $19.60.

On the options front, we saw bullish call buying in Allscripts Healthcare Solutions Inc (MDRX). Bearish option bets were made in Endurance International Group Holdings Inc (EIGI).

Tomorrow’s GDP and FOMC Announcement have enough juice to move the market. Of course, earnings will also play a big role. Earlier this afternoon Twitter’s (TWTR) earnings were pre-released. Ironically, the information was spread through Twitter. The stock is down 20% (including the after hours).

In addition, the street responded positively to GoPro Inc’s (GPRO) earnings. The stock is up over 13% (including the after hours). With 39% of the float short, this one has the potential for a real short squeeze.

Here’s what’s on tap for the rest of the week:

Key Economic Data:
29 April 2015- GDP 8:30 AM ET, FOMC Meeting Announcement 2:00 PM ET

Key Earnings:
29 April 2015- ADT, AMC, ASH, AVG, BIDU, BGCP, SAM, CCJ, CNW, ESV, FLEX, BEN, GLUU, GRUB, HERO, HES, HLT, HUM, IP, JBT, STAR, LOCK, LVLT, LNCO, LINE, LL