December 17, 2015 Market Wrap Up

December 17, 2015 tvcuser Education, Trading ATVI, Data, Earnings, education, ETE, FOMC, KBIO, P, RWLK, S&P 500, SFL, SPY, TK, TOO, trading, VIX

The S&P 500 closed lower, a day after the FOMC announced that they would be raising key interest rates. Initially, futures were trading higher pre-market. However, as the day progressed things got uglier. In fact, we saw some heavy selling pressure in the after-hours session. The SPDR S&P 500 ETF closed the day down more than 1.5%.

Surprisingly, the VIX didn’t really blast off, only gaining about 6% and closing below 19.

Oil names took a hit, not a surprise, as crude oil futures closed below $35 per barrel. Some oil and gas names also took a hit. For example, Teekay Offshore partners (TOO) was down over 50% after they announced that they would be cutting their dividend.

Stocks in play today included: Kalobios Pharmaceuticals (KBIO) -53%, Teekay (TK) -57%, Pandora (P) +13%, and ReWalk Robotics (RWLK) +80%.

On the options front, we saw large call buying activity in the Energy Transfer Equity (ETE) and Activision Blizzard (ATVI). We also saw massive put buyers in Ship Finance International (SFL).

Here’s what is going on for tomorrow:

Key Earnings:
18 December 2015- BBRY, DRI, KMX, LEN

November 25, 2015 Market Wrap Up

November 25, 2015 tvcuser Education, Trading AEZS, CSTM, Data, Earnings, Economic, education, KBIO, OPXA, S&P 500, trading, USO, VIX, VTL

The S&P 500 closed the day relatively flat and with little volume. Of course, this made sense, the markets will be closed tomorrow in the US, for the Thanksgiving holiday.

Given the anemic volume, it was also not a surprise to see the VIX close lower, finishing the day at 15.19.

Now, there was a ton of economic data that came out this morning. Durable goods came in better than expected. In addition, jobless claims were at the low end of expectations. Personal income was inline along with new home sales.

As mentioned yesterday, low float stocks continued to be the soup de jour. With volume drying up due to the holiday, traders have been feasting on stocks like Aeterna Zentaris (AEZS) +48%, Opexa Therapeutics (OPXA) +6%, Vital Therapies (VTL) +9%, and KaloBios Pharmaceuticals (KBIO) +45%.

The United States Oil Fund (USO) was flat today after geopolitical headlines dominated the news yesterday.

On the options front, we saw large call buying activity in Constellium (CSTM).

The market is closed tomorrow, but here is what we have for the rest of the week:

Key Earnings:
27 November 2015- BLOX

From all of us at TVC, have a happy and safe Thanksgiving holiday!

November 19, 2015 Market Wrap Up

November 19, 2015 tvcuser Education, Trading AGN, education, FOMC, KBIO, MDT, NKE, S&P 500, SPY, SUNE, trading, USO, VIX, VRX

The S&P 500 closed the day relatively flat, after a monster rally yesterday, where the market reacted positively to the FOMC minutes.

Interestingly, the VIX actually is trading around 17 and we are less than 2% off the highs in the SPDR S&P 500 ETF.

Stocks in play today, included Valeant Pharmaceuticals (VRX) +15%, Sunedison (SUNE) -11%, and Kalobios Pharmaceuticals (KBIO) +367%. Also, in the after hours, Nike (NKE) announced a new $12 billion share repurchase program and a raise in dividends. The stock is up more than 3% in the after hours.

The energy sector remains weak; the United States Oil Fund (USO) was flattish today. It’s now just 5% off the 52-week lows.

On the options front, we saw large call buying activity in Allergran (AGN). In addition, we saw bearish bets being placed in Medtronic (MDT).

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

20 November 2015- ANF, FL