Monday's Option Alerts

More mixed signals in the markets as we close out the week. Technology was held hostage in Friday's session due to some high profile warnings from Peoplesoft, Affymetrix, and STMicroelectronics. Volume was lighter on both the New York and the NASDAQ. The SPYs and DIAs were able to close out the day with small gains to add to their gains of approximately 2% for the week. The QQQs on the otherhand, had to be satisfied with closing the week "unched", after today's percentage loss.

The albatross continues to hang, although it has lifted some of its weight off of daily supports in the past two sessions. Still too much enthusiasm, or the "fear of missing out" syndrome for me to get to excited. The ETFs have managed, as judged by the numbers above, to hang in there. The volume statistics also confirm positive action, but considering the manner in which they've been trading....i.e. gapping action up and down with low relative implied volatility, has me thinking once more, that the only way to keep a"head" in a schizophrenic market is by always staying spread.

The VIX and VXN continue to raise the flag i.m.o., although no CVR signals are evident as of the close of trade. 

Points of Significance:

Abnormal Options Volume -- This list includes both percentage movers that are normally associated with an increase in options activity, as well as stocks that have unusually high activity and / or technical situations, reflecting increased speculation of a potential price move.

Stocks With Spikes in Implied Volatility -- Stocks with Increases and Decreases in implied volatility compared to previous day. Candidates are then screened qualitatively. These lists represent those issues that carry a blend of liquidity and/or technical setups that might deserve further notice. 

Spike Up

Spike Down

None Today.

Please use stops on every trade!