IBM is off 54 cents to $210.05 and one of 23 Dow stocks trading lower, as market breadth is negative to start the session on Columbus Day. Early options trades on the computer-maker include a Jan 195 – 220 bullish risk-reversal. 10 cents was collected, 2600X on PHLX. 3400 traded total and is possibly closing activity.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.