New Low In VIX
size=”2″ face=”Arial, Helvetica”>For those of you planning
to attend the TradingMarkets 2000 conference at the Venetian
Hotel Resort and Casino in Las Vegas on October 13-15, I’ll
be speaking on Saturday afternoon following Jay Leno. I’ll
also be at the cocktail party Friday night. Sign up soon, as
space is limited.
face=”Arial, Helvetica”>Providian Corp.
(
PVN |
Quote |
Chart |
News |
PowerRating), mentioned
recently and on the
From Highs List, still may present an opportunity for
covered calls. You can buy the stock for 109 3/16, and you
can sell the October 115 calls for 6. This represents
approximately an 11% return (more than 70% annualized, based
on 59 days until expiration) should the stock be called
away.
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The
financials
(
$SPF.X |
Quote |
Chart |
News |
PowerRating), mentioned recently, remain
strong. Continue to look for buying opportunities in calls
and call spreads here.
Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) is just shy of taking out its all-time
highs. Look for buying opportunities in calls and call
spreads here.
On
the short side, telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), mentioned recently,
broke down on Tuesday. Continue to look for buying
opportunities in puts and put spreads here.
The
VIX is now at its lowest level since July 1999. Continue
to look for buying opportunities in OEX puts and put
spreads.
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Best
of luck with your trading on Wednesday!
P.S. Reminder:
Protective stops on every trade!