Posts Tagged ‘OLN’

BP Options Abuzz Ahead of News Conference

 Today’s tickers: BP, WFT, ITT, AMR, OLN, VRGY & NANO

BP - BP PLC – Options volume, options implied volatility and the value of shares in BP are on the rise ahead of a press conference in which the oil company will reportedly shed light on a possible deal with the Russian state-controlled oil company, Rosneft. Volume in options traded on BP is fast approaching 270,000 in the final 30 minutes of the session, with shares in the name having rallied as much as 4.1% to touch an intraday- and more than 6-month high of $49.50. The overall reading of options implied volatility on the stock continues to climb as well, currently standing 30.1% higher on the session at 30.16% as of 2:55pm. Investors populating BP options are trading call options on the stock more than 2.2 times for each single put option in action. Trading traffic in calls is heaviest at the January $50 strike where more than 18,600 contracts have changed hands. Investors were also seen buying higher-strike calls in the name, with 12,500 calls exchanged at the January $52.5 strike on open interest of just 3,834 lots. The majority of these call options traded on the ask for an average premium of $0.18 each. Bullishness spread to the higher January $55 strike where more than 4,500 calls were picked up at an average premium of $0.05 a-pop. Similar buying patterns were observed in February contract calls, albeit at lower volume. Meanwhile, put options expiring at the end of next week received a good deal of traffic as well. More than 26,500 puts changed hands at the January $47 strike, versus previously existing open interest of just 4,401 contracts. Investors appear to be buying the puts, perhaps to lock in gains, hedge a long position in the underlying shares, or to speculate on a near-term pullback in the price of the underlying. Upwards of 13,100 puts were bought and sold in roughly equal numbers at the closer-to-the-money January $48 strike ahead of the closing bell.…
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Mega Earnings Monday – 1,000 Reports This Week!

What a crazy week this is going to be!

Pre-Market we're hearing from BLK, CAT (are we building stuff?), EXP, HTZ, HUM, LO, TUES and TZOO and later we will hear from BSX, CHH, OLN, RSH, RCII, TXN (major) and my "friendbuddypal" Cramer's TSCM (if they are not delayed).  Revenues at The Street have crept back up this year in a recovery that pretty much mirrors the market.  The company does pay a nice 2.6% dividend, which works out to a nice $200,000 bonus on Jimmy's 2.1M shares (6.7% of the company) so you know that bonus will be a priority for the company.  Cramer was BUYBUYBUYing his own stock at $2.41 in January but sadly they have no options to hedge…  They might make a nice pick-up after earnings if they disappoint and head back to $3 or less.

I'm full of useful information on hundreds of stocks right now because I've been researching our new Buy List but I'm not pleased with what I've been seeing so far and this week's tidal wave of earnings, with 1,000 companies reporting means we're in no hurry to dip our toes in the water.  I told Members this morning I should probably be working on a Sell List, as it's much easier to find companies I want to short than ones I want to buy.  Even in the Weekly Wrap-Up, we featured a 1,900% downside hedge on the Russell to offset the 566% plays and other bullish plays we've begun to reluctantly take, just so we don't feel too silly in this runaway market. 

If you have never watched Jim Cramer discussing the sleazy, manipulative ways he used to game the markets – you really must take 10 minutes and watch this video, where Jim explains how any immoral bastard with $10M can yank the entire futures market around at will.  He prefaces one of his favorite strategies with "this is blatantly illegal but.. I think it's really important… these are things you MUST do on a day like today and if you are not doing it, maybe you shouldn't be in the game."  Are you playing the game or are you being played? 

The biggest game ever played may be unwinding as we speak.  Bloomberg reports that foreign-exchange profits from carry trades are disappearing as differences in central
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Monday Markets – Is Momentum Shifting?

We're still trying to get bullish, really we are

Yes we are reluctantly bullish and only technically bullish at that.  All we are asking of the markets is for them to take out our very simple levels and hold them for more than a day or two.    Those levels are (and have been since early September):  Dow 10,087, S&P 1,096, Nasdaq 2,173, NYSE 7,204 and Russell 623.  These are, according to the 5% rule, the levels we need to hold in order to establish a floor in the markets that justifies setting higher upside targets.  If they cannot be crossed, then these REMAIN our upside range targets and we need to start seriously considering the possibility that we may still get a pullback to Dow 9,650, S&P 1,020, Nas 2,075, NYSE 6,900 and Russell 575.

As I mentioned last week (and noted on David Fry's IWM chart), the Russell was the first to fail our 623 mark and will be our canary in the coal mine as they test 595, which is the 50 dma.  A failure there and the markets have little support all the way down to our June highs, our original breakout levels of Dow 8,650 and other levels you don't even want to think about on a Monday. 

$2.66 is another level we don't want to think about.  That's the average price of regular gasoline this weekend.  Despite 10% lower demand than last year when December gasoline averaged $1.66 a gallon.  What's a dollar a gallon between friends right? 

Well, actually since US consumers use 63M barrels of gas each week, and a barrel happens to be 42 gallons, it happens to be about $10.5Bn a month taken our of consumer's pockets.  That's cash, after-tax money – gone!  Money they won't be able to give to all those nice Russell companies for Christmas this year.  Remember how much that $160Bn stimulus helped the economy last year?  How much do you think a $120Bn mugging hurts the economy this year? 

The timing couldn't be worse – last year, gas prices flew down and helped people make it to the mall for Christmas, this year already – as we can see from Amazon's great quarter, many people will be skipping the malls and buying on-line.  With 10% of the workforce…
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Phil's Favorites

Does raising the minimum wage kill jobs? The centurylong search for the elusive answer shows why economics is so difficult – but data sure helps

 

Does raising the minimum wage kill jobs? The centurylong search for the elusive answer shows why economics is so difficult – but data sure helps

The fight over the minimum wage continues. AP Photo/John Raoux

Courtesy of Veronika Dolar, SUNY Old Westbury

For decades it was conventional wisdom in the field of economics that a higher minimum wage results i...



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Zero Hedge

Powell's Stock Trades Leaked, Show Multi-Million Sale As Market Tanked

Courtesy of ZeroHedge View original post here.

With leaked trades in their personal accounts already costing two Fed presidents their jobs, and a third - vice chair Richard Clarida - currently on the ropes amid speculation he will soon follow, a few weeks ago we joked that if forces within the Fed want to get rid of all the hawks, they should just leak Esther George - the Fed's last remaining uberhawk - trading record.

If the Fed wants to get rid of all the hawks, they just need to leak Esther George's etrade blotter

— zerohedge (@zerohedge) ...

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Chart School

Price and Volume Swing Analysis on Bitcoin and Silver

Courtesy of Read the Ticker

Many take guidance from news, pundits or advisors. Well sometimes the swings of price and volume are a better measure of what happens next.

The big boys do not accumulate or distribute in single 1 second trade, they build positions over weeks, months and years. They use price swings in the market to build or reduce positions, and you can see their intent by studying swings of price and volume and applying Tim Ord logic as written in his book called 'The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks'.

Tim Ord is a follower of Richard Wyckoff logic, his book has added to the studies of Richard Wyckoff, Richard Ney and Bob Evans.

Richard Wyckoff after years of...

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Digital Currencies

Ethereum's Turn To Outshine Bitcoin Is Coming, UBS Says

Courtesy of ZeroHedge View original post here.

After a stellar start to the year, which saw its price soar to an all time high above $4,100, trouncing virtually all of its crypto peers, Ethereum has stagnated in recent weeks, with its place in the spotlight taken by bitcoin whose impressive outperformance has been the result of now confirmed speculation that a bitcoin futures ETF is coming. It also meant that what has traditionally been a close correlation between the two largest cryptos has broken in favor of the larger peer; it would also suggest that ethereum is trading about $1000 cheap vs bitcoin.

...



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Politics

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

 

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

Defiant or following Trump’s direction? John Lamparski/NurPhoto via Getty Images

Courtesy of Kirsten Carlson, Wayne State University

The House committee investigating the Jan. 6 attack on the U.S. Capitol is tasked with providing as full an account as possible of the attempted insurrection. But there is a problem: Not everyone is cooperating.

As of Oct. 14, 2021, Steve Bannon, a one-tim...



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Biotech/COVID-19

Ivermectin is a Nobel Prize-winning wonder drug - but not for COVID-19

 

Ivermectin is a Nobel Prize-winning wonder drug – but not for COVID-19

While ivermectin was originally used to treat river blindness, it has also been repurposed to treat other human parasitic infections. ISSOUF SANOGO/AFP via Getty Images

Courtesy of Jeffrey R. Aeschlimann, University of Connecticut

Ivermectin is an over 30-year-old wonder drug that treats life- and sight-threatening parasitic infections. Its lasting influence on global health has been so profound...



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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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