ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Zero-emissions truck company Nikola (NKLA) has been a short-seller’s dream for almost two months given the pressure from sellers and a rapidly expanding float. As a pre-revenue company with no product in the market and a multi-billion dollar market cap, Nikola naturally attracts a lot of scrutiny. I finally got interested in the company and … Read more
On June 25th, call options in sportings goods retailer Hibbett Sports (HIBB) sprang to life. At the time, around 1500 October $22.50 calls traded versus 0 open interest. On June 29th, open interest climbed above 2500. For context, HIBB options are sparsely traded. The second highest open interest sits with the Jan 15 ’21 calls … Read more
The Message in Home Builder Sentiment The National Association of Home Builders (NAHB) reported a tremendous surge in the sentiment of home builders. The Housing Market Index (HMI) soared from 37 in May to 58 in June. Just two months after suffering a historic plunge, sentiment among home builders is right back to positive territory. … Read more
Insider Trading The stock of Camping World Holdings (CWH) has rallied an astounding 438% off its March all-time low. Despite this 2-month comeback, the stock price still attracted the attention of Chairman & CEO Marcus Lemonis. Camping World’s leader spent a little over $50,000 to buy 2,444 shares of CWH stock on May 21, 2020 … Read more
The stock market crash in March was stomach-churning and generated a lot of panic. At its lowest point, the S&P 500 (SPY) was down 33.9% from its all-time high set just the previous month. The rebound from that stock market sell-off has been heroic with a 32.1% gain taking the index within another 14.6% rally … Read more