Monday Options Recap
Frederic Ruffy submits: Sentiment
Stocks are broadly higher, as investors shrugged off the day’s economic data and focused on stock news instead. A report released early showed personal incomes up .3 percent and spending unchanged in May. Economists were looking for increases of .4 percent and .1 percent, respectively. Yet, Microsoft (MSFT) is trading up 4.7 percent and the Dow’s best gainer after a court struck down a law that banned certain video games. Microsoft had been opposed to the regulation. Meanwhile, BofA (BAC), the second best gainer in the industrial average, is up 3.6 percent after Rochdale Securities LLC analyst Richard Bove said shares are undervalued. In all, 28 components of the Dow Jones Industrials are higher today and the average is up 150 points. The tech-heavy NASDAQ gained 43.5. CBOE Volatility Index (.VIX) gave back .73 to 20.37 amid light volume in the options market.
Bullish FlowPulte Group (PHM) addsComplete Story »