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What Is the Deal with Steel Production and Prices?

Last week, I noticed media headlines screaming the horrible news that “Crude steel output in 2009 to hit lowest level in 40 years.” As I searched for the direct source of this quote from Japan’s Ministry of Economy, Trade, and Industry (METI), I stumbled upon its “Preliminary Report on Iron and Steel, Non-ferrous metal, and … Read more

Strangle Options Play in WYNN

Casino stocks have soared since the July market lows. September in particular has featured some near parabolic moves as shorts get squeezed and risk-seeking behavior has accelerated. Wynn Resorts Ltd. (WYNN) has caught my attention the past two months because its large swings in stock price have made option strangles quite profitable. In a strangle, … Read more

Coventry Health Succumbs to Heavy Selling Pressure

Every now and then, high options volume does precede unique stock activity (my own analysis concluded that high options volume is at best a signal to trade with the prevailing trend). Yesterday, Coventry Health (CVH) (a managed healthcare company) succumbed to heavy selling pressure and dropped 7% one day after briefing.com reported unusual options activity … Read more

Welcome!

I have FINALLY transferred my blog “One-Twenty” to a true blogging platform. I have dubbed this new location “One-Twenty Two” and preserved the old posts under the original site. Please make the appropriate changes to your feeds and/or bookmarks. I hope you find the new format more appealing. I look forward to your feedback and … Read more