Option Block 103: Greece is the Word
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Option Block 103: Greece is the Word
\\nTrading Block: Greece! The other European countries have finally said enough is enough - they may survive without Greece, but Greece can\'t survive without them. It looks like the VIX was hedging its own bets, there was a giant relief sell-off like was last week. XLE up over 2% on the day. There\'s definitely been a lot of movement in energy today, when it feels like things are getting better, people flock towards energy - a good time to be a bull. Gold closed at the highest it\\u2019s been in a while, gold and silver are starting to claw their way back after a recent pull-back in the metal world. In the land of collars - the premiums in the weekly have been high enough, especially in GLD, to justify using some of the near term options.
\\nStrategy Block: Today feature of the strategy block will be a dual session, split by Andrew Giovinazzi and Mike Tosaw. Andrew starts by enlighten us on the uses of the front spread. What is a 1x2? How do you pick a front spread? With his turn, Tosaw discusses the back spread, including topics on modified stock repair strategies and hedging a front spread with a back spread.
\\nAround the Block: Back spreads - with the financials prone there are some opportunities because the volatility is at a point where it\'s cheap enough since they\'re moving so much. Keep an eye on Greece - Will they oust their prime minister? Greece is the word!