Author Archive: Fred Ruffy
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.
Stock market averages moved in a narrow range Wednesday morning heading into the FOMC post-meeting statement and are now at session lows after Federal Reserve officials signaled that the economy is at reduced risk compared to the fall [Oh F%#&, not that!]. Bernanke also indicated that the Fed might reduce stimulus later this year. The [...]
Morgan Stanley (MS) is up 7 cents to $26.39 and early trades on the investment bank include a sweep of 1,800 Jun 26.5 calls for 21 cents, following by 3,200 more for 24 cents. 7,200 now traded against 3,547 in open interest and data from ISE is hinting at opening customer buyers. The interest seems [...]
Stock market averages are holding solid gains for a second day ahead of the Fed’s policy update due out tomorrow afternoon. Volumes are light and the economic data, on Housing Starts and CPI, was a bit below expectations. Nevertheless, the Dow is holding a 150-point gain and is not far from session highs. The NASDAQ [...]
Fusion Io (FIO) dropped to new lows of $12.75 on news another company co-founder has left the board, but has since rebounded and is up 14 cents to $13.43 in heavy trading of 2.7 million shares. Options action on the Salt Lake City data storage device-maker is heating up as well. 5,280 calls and 2,500 [...]
Stock market averages sported solid gains with help from economic data through midday, but have come well off the best levels on concern Fed officials will announce plans to ease off the stimulus later this week. NY Empire Index and NAHB Homebuilder Sentiment Index for June both came in significantly better than expected. Strength across [...]
Micron (MU) adds another 56 cents to $13.31, new multi-year highs, and an investor sells 16000 Oct 12 calls on the stock at $2.43 to buy 18,000 Oct 14 calls for $1.41. Open interest in the Oct 12s is 57.6K and so today’s activity in the contract is possibly closing. We noted large buyers opening [...]
Stock market averages are under water after Univ of Michigan and Industrial Production were a bit weaker-than-expected, but PPI saw an expected .5 percent uptick for May. The IMF also revised down its expectations for global economic growth for 2014 to 2.7 percent. Meanwhile, investors are understandably concerned that the Fed will begin letting up [...]
Brisk trading in the call options on Blackberry (BBRY) Friday morning. The stock is up 25 cents to $14.77 on increasing volume of 5.5 million shares and has rallied 8.3 percent in the past two days after being upgraded at Societe Generale. 26,000 calls and 7,000 puts already traded in the options on the mobile [...]
The roller coaster ride continues. Trading was mixed early after Japan lost 6.4 percent overnight and European markets saw a day of sluggish trading. However, the economic calendar included better-than-expected readings on Retail Sales, jobless claims, and business inventories. The early reaction to the data was muted, but stock market averages scored solid gains in [...]
Williams Companies (WMB) drops 91 cents to $33.12 on talk of a plant explosion (Reuters) and one investor apparently sees the weakness as an opportunity for a bullish three-way spread, selling 2500 Jan 30 puts on the natural gas producer at $1.80 to buy 2500 Jan 40 – 45 call spreads for 60 cents.