Volatilities Creep Higher As Players Get Nervous
As our volatility matrix below shows, Wall Street is getting nervous again about
the market’s inability to sustain any rally. Across the board, we’re seeing
volatility (perceived risk) move higher. Only the DJX has sat with the
same volatility as yesterday, while the rest of the indexes we follow are
averaging 3- 4% increases.
| Symbol
|
Prev.
|
Last
|
| SOX
|
        71.20
|
        73.75
|
| HHH
|
        70.05
|
        72.60
|
| SMH
|
        69.15
|
        68.70
|
| QQQ
|
        62.90
|
        65.65
|
| MNX
|
        60.75
|
        63.25
|
| NDX
|
        61.20
|
        63.65
|
| OSX
|
        45.00
|
        45.75
|
| BKX
|
        32.25
|
        31.40
|
| RUT
|
        28.15
|
        27.45
|
| OEX
|
        24.10
|
        25.25
|
| SPX
|
        22.85
|
        23.05
|
| DJX
|
        19.80
|
        19.80
|
| BBH
|
        47.50
|
        49.25
|
| BDH
|
        70.95
|
        73.65
|
| BHH
|
      125.05
|
      127.35
|
(1010WallStreet.com
has licensed the use of Hamzei Analytics LLC proprietary options analytics)
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When we looked at our dollar-weighted option scans early this afternoon, it
wasn’t surprising to see the bears taking charge. With Applied
Micro Circuits
(
AMCC |
Quote |
Chart |
News |
PowerRating) down 3 ¾, Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) down 1 1/16 and Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating)
hammering lower by another 5 ½, it’s not shocking to see dollar-weighted
ratios favoring the put buyers. Even though some of the stocks on this list are
again at 52 week lows, we are not seeing speculative money betting on a bounce,
but rather on a continuation of the slide.
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Bearish Option Action:
| Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
|
| AMCC
|
   3,153
|
   5,066
|
 $  7,404.00
|
 $ 225,836.00
|
| ARBA
|
   2,354
|
   3,556
|
 $  5,644.00
|
 $ 172,950.00
|
| BRCM
|
   5,874
|
   5,797
|
 $ 26,958.00
|
 $ 135,688.00
|
| JDSU
|
 12,577
|
   4,906
|
 $ 26,256.00
|
 $ 102,585.00
|
| QCOM
|
   7,833
|
   8,010
|
 $ 38,938.00
|
 $ 137,780.00
|
| CSCO
|
 25,713
|
 21,752
|
 $ 46,668.00
|
 $ 449,691.00
|
| YHOO
|
   5,292
|
  $  9,563.00
|
 $ 735,867.00
|
(1010WallStreet.com
has licensed the use of Hamzei Analytics LLC proprietary options analytics)
  Â
Only biotech giant Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) looked
mildly bullish, with a 3:1 call to put quotient.
 Â
Bullish
Option Action:
| Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
|
| AMGN
|
   6,945
|
   2,366
|
 $ 42,331.00
|
 $  15,818.00
|
(1010WallStreet.com
has licensed the use of Hamzei Analytics LLC proprietary options analytics)