VIX Remains Low
face=”Arial, Helvetica” size=”2″>Join me, fellow
TradingMarkets.com content providers, and other traders and
money managers at the Trading Markets 2000 conference at the
Venetian Hotel Resort and Casino in Las Vegas on October
13-15, 2000.
Genzyme
(
GENZ |
Quote |
Chart |
News |
PowerRating), on
the
From Highs List, may present an opportunity for covered
calls. You can buy the stock for 69 7/8, and you can sell
the September 75 calls for 3 1/4. This represents
approximately a 12% return (more than 120% annualized, based
on 36 days until expiration) should the stock be called
away.
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The semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still look vulnerable. Continue to look for buying
opportunities in puts and put spreads here.
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Continuing on the short side, the Nets
(
$DOT.X |
Quote |
Chart |
News |
PowerRating)
sold off on Wednesday and appear to be resuming their
downtrend.
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The poor action in Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating)
weighed heavily on the retail sector
(
$RLX.X |
Quote |
Chart |
News |
PowerRating). In
fact, much of the sector’s recent gains were erased on
Wednesday. Look for buying opportunities in puts and put
spreads here.
The VIX remains at its lowest levels since
February. This, combined with a CVR II sell signal on the
Bias Page, suggests that there may be a buying
opportunity in OEX puts and put spreads.
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Best
of luck with your trading on Thursday!
P.S. Reminder:
Protective stops on every trade!