Fed Chair Likes Market Prospects…
Last
night in Singapore, Federal Reserve Chairman Alan Greenspan told delegates at
the International Monetary Conference that the world’s most powerful man did
not see inflationary pressures in the United States. Mr. G. did say that higher
energy prices could become a catalyst to watch, but thus far was not causing any
inflationary pressures. Specifically, the Fed Chair cited a lack of pricing
power in the American economy.
Initially this morning, we saw a rise in the major indices, followed by a selloff. However, as of this writing (12:30 CT) we are back in the black for both
DJIA and NAZ.
Veritas
(
VRTS |
Quote |
Chart |
News |
PowerRating) Jan 100 of 2002 reversal is why VRTS keeps
showing up near the top of our $ weighted charts. Obviously, it’s not the 5000
calls trading for $6.70, but the 5000 puts trading for $36.5 that are skewing
the picture.
In Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) despite the minor
rally, the puts are remaining the hot issue. Two major trades are really keeping
that put reading sky high. The first is an extremely active accumulation of
20,000+ October 50 puts, followed by a 10,000-lot spread of the MSFT January
2003 45 — 75 puts. Our numbers show that spread traded for $14.40 for the Jan
75 puts and $3.50 for the Jan 45 puts. In other words, the put spread traded for
$10.90.
| Symbol
|
Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
| MSFT
|
9,356
|
46,033
|
34,405
|
211,376
|
| VRTS
|
5,416
|
5,231
|
35,151
|
176,125
|
Our Volatility Matrix
| Symbol
|
Description
|
1010WS
|
| XOI
|
86
|
|
| BDH
|
68.16
|
|
| SOX
|
63.54
|
|
| SMH
|
59.01
|
|
| HHH
|
58.77
|
|
| QQQ
|
56.54
|
|
| NDX
|
55.53
|
|
| MNX
|
55.33
|
|
| BBH
|
52.3
|
|
| OSX
|
43.65
|
|
| XAU
|
43
|
|
| BKX
|
26.01
|
|
| OEX
|
23.69
|
|
| RUT
|
21.35
|
|
| SPX
|
21.18
|
|
| DJX
|
20.34
|
(1010WallStreet.com has licensed
the use of Hamzei Analytics proprietary options analytics)