Thursday, December 3, 2009
Index Call Volume Surge
There has been a notable surge in call volume over the past 30 minutes at the CBOE, with over 300,000 call options traded during the past half hour, compared to less than 80,000 puts traded. This coincides with rising equity put call ratios throughout the day as the market goes lower. I expect a gap up tomorrow after the nonfarm payrolls report comes out. But the action in the financials today after the BAC news is a negative sign for the coming days.
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3 comments:
Have any idea what Goldman's job report expectation is? I hear they have been very accurate.
I have no idea. That nasty close came out of nowhere. It muddies up the picture for tomorrow, I am neutral on the open. Mostly likely scenario is weakness ahead of the jobs report and then a jump on the report.
Asia & Europe aren't gonna take that close too lightly. Unless we get a good surprise, we'll gap down tomorrow. - Petsamo
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