Slow Selloff Could Mean Seven Isn’t Nasdaq’s Lucky Number
From
the looks of it, the Nasdaq will not be able to make it seven in a
row, as both
listed and over-the-counter markets are trading lower. The individual investor
is more bullish than the institutional investor is, as our dollar-weighted put
volumes show.
The MNX, made more attractive to the individual investor by the size of the
contract ($198.75 for the MNX, vs. $1987.5 for the NDX), is seeing less
buying pressure on the put side that is being placed on the NDX.
Given
the selloff, the amount of call buying in the following option classes is
somewhat surprising. MERQ has had several call trades of 2,000 contracts or
more, despite the fact that the average daily volume has been less than 1700
contracts!
(1010WallStreet.com has licensed
the use of Hamzei Analytics proprietary options analytics)