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 are holding gains on a relatively slow news day again Tuesday. With no economic slated until Wednesday’s Existing Home Sales report, mixed earnings from Home Depot (HD), Best Buy (BBY), and TIVO helped set the tone for steady trading at the open. Overseas markets were mixed overnight and crude is working off [...]
TD Ameritrade (AMTD) is off 25 cents to $22.32 and 47,000 Aug 23 calls are sold on the online broker, down to 80 cents per contract. Separately, 25,600 Jan 26.5 calls traded on the stock for 65 cents per contract. Like last week, the flow seems to be rolling of positions opened in early-March, when [...]
With no economic data or earnings of broad market significance, it was a slow news day Monday morning. Gold and Silver saw intraday spikes, however. Some traders think it was related to a Bloomberg story that Moody’s might cut US credit rating in 2013 (LINK). For whatever reason, the metals, which were pummeled overnight, are [...]
Arch Coal (ACI) ticks seven sents higher to $5.08 and sweep of 1,218 June 5.5 calls traded on the stock for 17 cents a few minutes after the bell, then 1,490 more for 18 cents. Looks like early call buyers on the coal producer. 2,828 contracts traded.
Stock market averages opened higher and held the gains through economic data, then rangebound action returned. The Univ of Michigan Sentiment Index for mid-May and the List of Leading Indicators for April were both released during market hours this morning, and both were better than expected. Steady trading across much of Asia and Europe also [...]
James River Coal (JRCC) is up 45 cents to $2.67 in active trading of 883K shares and options action is heating up as well. 4,625 calls and 1,245 puts in the first five minutes of Friday’s session. Early trades include a sweep of 2,970 Jun 3 calls for 15 cents per contract when the market [...]
Stock market averages are modestly higher despite a round of weaker-than-expected economic data Thursday. While jobless claims rose much more than expected last week, Philli Fed, Housing Starts, and CPI were all well below expectations. I’m hearing more than one investment firm arguing that weak economic data is a positive for the stock market because [...]
Diana Shipping (DSX) is up 45 cents to $10.57 in active trading of 2.2 million shares as the sector sees relative strength on earnings from Eagle Bulk Shipping (EGLE). Options volume on DSX, which reports the morning of 5/22, is running 8X the daily average. 7,800 calls and 1,215 puts so far. Jun 11 calls [...]
Interesting trading day with some of the signs of a classic midweek reversal – up Monday, up Tuesday, and up Wednesday morning. Then, the NASDAQ, which led on the way up, leads on the way down. The initial rally was indeed surprising, as data on Industrial Production, PPI, and NY manufacturing were all weaker-than-expected. Crude [...]
Odd action in VIX, as it moves up .52 to 13.29 and sesson highs, even as the S&P 500 gains 11.06 points and also moves to its best levels of the day of 1,661.49. Relatively active trading is happening in the index market, with about 619K calls and 511K puts traded SPX, VIX and other [...]