While there was Interesting option activity in many names today, one really grabbed my interest. Most of the action is trading for a move to occur over the next few months meaning time is on our side.
Over 70% of options were purchased at the ask. I like seeing that type of action, as it highlights some impatience and/or confidence that these options are going to turn a profit.
Tuesday Morning Market Video - $SPY $QQQ $GOOGL $AAPL $FEYE $TWTR $SPG $BXP
You thought a long weekend would put an end to this Greek-standoff stuff? Think again.
Talks between Greece and eurozone finance ministers on Monday night lasted barely two hours, according to some reports. Sticking to his guns, Finance Minister Yanis Varoufakis said his country wants a deal, but with concessions. He also said negotiators don't have "the right to play games with the future of Europe," and that a halfway meeting point may emerge during the next couple of days.
We'll see. Let's just hope he doesn't get his Burberry scarf caught on the door handle before the proverbial car goes off the cliff.
Todays morning market video:
Stock futures were falling over the extended Presidents Day Weekend before finding their footing. Stocks look to open the trading week relatively flat from last weeks close. Greece, after years of creating chaos in the market, is not scaring anyone these days.
Here are some great articles to start off your morning with:
