Option Block 172: Mini Crash Crush
Option Block 172: Mini Crash Crush
Trading Block: VIX essentially unchanged on the day. Discussing its underperformance again as traders again showed a willingness to unload vol going into the weekend. Mini-crash crushes a number of stocks (Citi, Bank of America, etc.) and annihilates KCG. CBOE earnings this morning - net income up from 2011 despite weak options volume across the board. Facebook breaks a significant floor at the $20 handle. Trading after Apple earnings.
Odd Block: Bears Pouncing on Hewlett-Packard Options (HPQ); opening call buyer in E*Trade (ETFC), and LeapFrog Call Volume…
The skinny
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