Option Block 701: Revenge of the Trade War
Trading Block:
The market is tanking on trade war concerns: Trump is at it again.
Volatility returns - VIX back in the 20s.
The tech selloff continues - FB closed $185 on 3/16 - traded as low as $163.72 today, down nearly 12%.
Fed hikes rates as expected.
US weekly jobless claims total 226,000, in line with expectations
Earnings: NKE: $65.30, ATM straddle - $3.60, approx. 5.5%
Odd Block: Calls trade in Deere & Company (DE), puts trade in CNH Industrial NV (CNHI) and split ticket calls in TC Pipelines LP (TRP).
Strategy Block: Uncle Mike Tosaw discusses selling naked puts
Mail Block: Listener…
The skinny
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