Thursday
June 25, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Closing Prices From Yesterday
Closing Prices From Yesterday
TODAY IS THE BIG DAY ON GREECE – OR IS IT? Who wants to bet the can is kicked down the hall again?
Confused? Don’t know if you are protected in a crash?
Call the office for assistance!
Today’s Number(s)
Yesterday
Fear Anyone?
First off….yesterday’s selling was only 178 Dow points, or 1%. Six months ago that would have been a quiet day, but since we are in the dullest market in 20 years it felt bad.
Second…It was all people placing bets that a deal with Greece would not work out and/or people who didn’t want to be in the bet at all (and panicking out). If we bounce or a deal is done these people will looking like little girls in hindsight. What makes matters worse is the fact that one would bother selling with the VIX is at record lows going into the Greek deadline. If I had to guess a year ago what volatility would be like going into this sort of a historical event I would have put it at a range of 16-18%.
STOCKS
Carl Ichan sold the last of his NFLX out at 694, doubling his money. Then he went on to say that AAPL will be the next NFLX. Small difference Carl, AAPL doesn’t have the growth rate of NFLX.
TODAY
We have a lot of economic numbers out, but NONE of them mean anything. They can be good or bad and the market will not hear it over the deafening tone coming from across the pond. All eyes, ears and blabber mouths will be focused on Greece today. The media is making this some sort of binomial event where it is either a “deal or no deal”. I say there is door #3 with a big foot kicking a can. Someone is making too much money playing these daily rumor swings to want to stop now. Tsaria is not smart enough, so I am guessing it is Greece’s Minister of Finance, Yanis Varoufakis.
OPTION TRADERS
The VIX closed at 13.26. This makes sense considering the unusually tight range the market has been in during the last few months. However, before today’s Greece announcement does it make sense? In POT we are long 754 (200 more than the day before) in premium but have set it up in a way to be almost theta neutral. We will stay that way until Friday morning or the next big move that happens before then.
Contract the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
It is amazing how he is banning US food, then will buy the same food from a friendly Chinese friend at a higher price.
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Attorney Stuff
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