Maxwell Meyers is the Executive Producer for CNBC's Options Action, Futures Now and Talking Numbers. Since joining CNBC in 2005, Meyers has served as the Senior Producer of The Strategy Session, Money in Motion Currency Trading and a Producer for both Fast Money and Mad Money with Jim Cramer. Prior to joining CNBC, Meyers worked at CNNfn, where he was a part of the launch of Open House. He has written for Kiplinger's Personal Finance, The Bond Buyer and CNBC.com.
Two big names. Two very different trades. That more or less sums up last Friday’s Options Action.
Two bearish trades on two wildly different companies. That more or less sums up last Friday’s Options Action, where the market’s recent rally took a back seat to some decidedly downbeat views on our show.
Citigroup’s earnings appear to have given a lift to the financials, but the real test will come later this week when Goldman Sachs and Morgan Stanley report results.
We all know the stunning statistics about: Lions Gate’s "The Hungry Games"; third biggest open, best March opening, a global weekend haul of $214 million worldwide.
Going against the herd is never easy, especially when money is on the line, but that’s exactly what our traders did last Friday.
You might be wondering why Bank of America puts are so active today, especially in the May expiry. Do options traders doubt the rally in the banks? Do they view BofA’s prospects as less than rosy? Plausible explanations for sure, but perhaps a simpler reason exists: Friday’s Options Action.