Low VIX Again
size=”2″ face=”Arial, Helvetica”>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.
face=”Arial, Helvetica”>Providian Corp.
(
PVN |
Quote |
Chart |
News |
PowerRating), on the
From Highs List, may present an opportunity for covered
calls. You can buy the stock for 108, and you can sell the
October 115 calls for 5 5/8. This represents approximately a
12% return (more than 71% annualized, based on 60 days until
expiration) should the stock be called away.
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Financials
(
$SPF.X |
Quote |
Chart |
News |
PowerRating) and insurance
(
$IUX.X |
Quote |
Chart |
News |
PowerRating) appear to be
forming high-level bases and look poised to make another leg
higher. Look for buying opportunities in calls and call
spreads here.
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Oil
service
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) is in day two of a pullback from
highs. Look for buying opportunities in calls and call
spreads here.
On
the short side, telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
still looks vulnerable. Continue to look for buying
opportunities in puts and put spreads here.
The
VIX remains near its lowest levels of the year. Look for
buying opportunities in OEX puts and put spreads.
Best
of luck with your trading on Tuesday!
P.S. Reminder:
Protective stops on every trade!