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What do you think about the huge volume and possible bottom in FOX today?



16MM volume today vs avg volume of 2.6MM. No big news today and we're a month out from earnings. Last quarter they had a 25% earnings surprise.

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I'm not seeing that last minute volume bar. 1.25M during trading hours. Did they have a private equity share offer that hit after hours? I know they promised a $6 Billion stock repurchase program over a 12 month period. That volume looks like a settlement trade at the close. At any rate it bears watching because the buyer, FOX or otherwise invested a ton of money.

Yep, I think we can disregard that last post of mine regarding FOX. After looking it up again it appears to have been a glitch in the data service from OptionsHouse. I'm showing regular volume now.

Finally moved outside of Friday's action, and to the downside. We now have some downward price momentum over the past week and a half and some more volatile price action.

151k jobs
4.9% imaginary unemployment

Jobs report

I guess the markets think this is good news.

It's all about monetary policy until an actual recession hits. Then it will still be about monetary policy after the correction.

Have I mentioned lately that there has been no change to buying the dips?

Awesome trade man. That's incredible

GILD going in on Sept. 9 $79 strike at 35 cents.

Would you mind explaining your MO trade a bit more? I don't remember what position you had. Was it just another buy the dip, sell when price rises to preserve capital and let the rest ride?

Markets just above midway of the support/resistance channel. If you bought dips and get pops, like we did on MO, note that I take profits off the table. Although no probable interest rate hikes have typically resulted in another bull leg higher at some point the forward looking markets will find its end game. As a general rule markets look forward 6 months for traders. That puts us into February and the new President will be in office.

Watching each channel formed closely to factor into everything else.

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Would you mind explaining your MO trade a bit more? I don't remember what position you had. Was it just another buy the dip, sell when price rises to preserve capital and let the rest ride?

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Position was $66.50 Calls for today. $0.21 cent entry and closed out at $0.47 on spike. And with expiration being today it was a full sale.

Markets 50% retracement from today's high mark. Could go either way now. Remember markets are closed Monday so options decay factored.

Sat today out but my analysis prior to today was a battle of POCs and that we would likely rotate between 60 and 80 for the most part, until this area was fully equalized. I don't think it will take 14-16 days like the previous two consolidation ranges bough and I think we get some volitility returned to this market.

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Sat today out but my analysis prior to today was a battle of POCs and that we would likely rotate between 60 and 80 for the most part, until this area was fully equalized. I don't think it will take 14-16 days like the previous two consolidation ranges bough and I think we get some volitility returned to this market.

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Seeing some within individual stocks. Markets just hanging green. Last half into long weekend.

GILD gapping up nearly $1. Those options should be value money at open and potentially in the money today.

Nice jump!

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Nice jump!

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Alert - Closing out remaining TCK options. Woot!

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GILD gapping up nearly $1. Those options should be value money at open and potentially in the money today.

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Clear resistance sits at $78...had a 172 minute volume spike attempt to punch through rebuffed. It breaks that and it's off to the races.

TWTR is up over 10% the last few days, It looks like $21 is the resistance level?

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TWTR is up over 10% the last few days, It looks like $21 is the resistance level?

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Unconfirmed thus far but agree that approaching $21 most likely hits short term resistance. It knocks through it then get ready for a ride.

GILD continues its move. Options rocking.

ALERT: Closing out 75% of GILD $79 calls at 44 cents. Would like to hold longer but with shortened week and this friday expiration I am booking the majority of gains.

Corrected. Actual sell was 90% of the order filled at 44 and remainder 43.

Is that a typo on price? i have had these on my screen and i see the high today is $0.44 (yes I have live real-time pricing).

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Is that a typo on price? i have had these on my screen and i see the high today is $0.44 (yes I have live real-time pricing).

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Sure was....It was a sell at the bid...ask was 47..apologies. Sell was a trigger sale since I was away from markets. Sell on 47 cents ask triggered market sell order, to be clear.

Sideways action most recent bounce has paused at the midway level. The resistance selling intensified each time the midway level was breached. If we can't rise above yesterdays close today then most traders will position a retest of the lower levels.

Anyone know why Sallie Mae, SLM, is breaking out?

A lot of money flow continues into small caps. RUT is smoking and TZA (Bear ETF) is at all time lows.

Any counters in case SN doesn't fall to the $8.00 strike price by Sept 16th?

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A lot of money flow continues into small caps. RUT is smoking and TZA (Bear ETF) is at all time lows. You can see the bottom guessers on TZA have increased but are getting hammered with every new low. That is a chart of death. Expect a reverse stock split famous for ETF's coming soon.

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VIX closed below $12 again. I notice it has done so several times since the summer but doesn't seem to ever stay down more than a few days.

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Any counters in case SN doesn't fall to the $8.00 strike price by Sept 16th?

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Any price below $8.75 (Option plus covered call premium) you would just buy equivalent number of shares if you actually want to stay 100% invested. I'd take some of the money off the table for now.