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Trading Block: Dow sets new record by hitting 24,000 and SPX hits 2,657. This was the fifth 1,000-point milestone for the Dow this year, first hitting 20,000 on Jan. 25. The market is still in rally mode, awaiting tax deal. North Korea unable to spook the market.
Odd Block: More Jan 2019 50 "Catastrophe" puts on the tape yesterday - OI breaks 30k. Funky ratio risk reversal in SPDR S&P Retail ETF (XRT). Put spread vs. near-term calls in Aetna Inc. (AET). Near-term Dec call love in Caesars Entertainment Corp. (CZR).
Strategy Block: Uncle Mike Tosaw discusses buying front month OTM calls and the power of gamma.
Mail Block: Listeners weigh in
Options question of the week: SPY always dominates the options volume charts. But what do you think people are actually trading in SPY? Take a guess at the Top OI position in SPY right now. No cheating (or checking with your broker) - use your grey matter & your "gut" to pick the right one.
Questions and comments:
Around the Block/ Economic Reports this Week: