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.
It’s the kind of performance that can almost make you nostalgic for the good old dot-com days, when the fleecing of mom and pop investors was left to the Pets.com and iVillages of the world.
Two big stocks, two bold calls. That describes last Friday’s "Options Action," where the traders got bearish on a financial giant, and bullish on the king of Internet search.
Despite massive call buying a curious thing happened in the options pits: many people lost money. How could that be?
Why did we see a clip of two bears fighting on last Friday’s "Options Action?" Well, because that video basically summed up the whole show.
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.