Text Size 
Stocks looked like they might be able to stage a nice rally today, but gave back early gains by late morning. The VIX, the CBOE’s volatility index, dropped to back under 50% on the indecisive market moves, suggesting again that the fear in the market is relatively short-lived. With January expiration today, it seemed like they were trying to pin the S&P 100 to around 400 where open interest in the 400 calls and puts was a bit higher than nearby strikes. It closed at 400.94. There’s no trading on Monday in honor of Martin Luther King Day.
Next week’s economic data is a little light. Crude oil and gasoline inventories will be released on Thursday morning, instead of the usual Wednesday, along with Dec building permits and housing starts, and initial jobless claims.
Tom Preston
thinkorswim, Inc.
Member FINRA/SIPC/NFA
thinkorswim, Inc. and its registered employee, Tom Preston, do not solicit or recommend any form of trading in the individual stocks (or their derivatives) mentioned above. Please do careful, independent research before investing any money as well as weigh the possible consequences on your particular financial situation before doing so. The risk of loss may be substantial.
