Unusual Options Activity – Wells Fargo & Company (WFC)

Data Source: barchart

Today some institution/fund purchased 1,422 contracts of Jan 2021 $17.50 strike calls (or the right to buy 142,200 shares of Wells Fargo & Company (WFC) at $17.50). The open interest was just 285 prior to this purchase. Continue reading “Unusual Options Activity – Wells Fargo & Company (WFC)”

Be in the know. 17 key reads for Thursday…

  1. 13 Stock Ideas From Top Value Managers (Barron’s)
  2. Gilead’s Remdesivir Is a Rare Example of Foresight in This Pandemic (Bloomberg)
  3. What’s Good for Banks Isn’t Necessarily Good for Bankers (Wall Street Journal)
  4. Deals Aren’t Dead. Here Are 12 Stocks That Could Become Buyout Targets (Barron’s)
  5. Green Shoots for the Economy and 5 More Things to Know (Barron’s)
  6. As Stock Buybacks Disappear, Dividends Stand to Gain (Barron’s)
  7. As States Reopen, Home Purchase Applications Rise for the Fourth Week in a Row (Barron’s)
  8. Mnuchin Seeks to Assuage Investors After Powell’s Gloomy Outlook (Bloomberg)
  9. Trump Says He Disagrees With Fauci’s Concerns Over Reopening (Bloomberg)
  10. Wisconsin Supreme Court strikes down state’s ‘stay-at-home’ order (CNBC)
  11. A London-based trading house bought 250,000 barrels of oil during the historic plunge below $0, and likely made a fortune. (Business Insider)
  12. U.S. weekly jobless benefits to stay elevated as coronavirus layoffs widen (Reuters)
  13. AbbVie’s Potential Is ‘Underappreciated,’ Says Morgan Stanley Analyst (Benzinga)
  14. The Swedish Model Trades More Disease for Less Economic Damage (Bloomberg)
  15. Oil Price Crash Could Hurt Trump in Texas, Help in Pennsylvania (Bloomberg)
  16. New York and New Jersey Start to Reopen Their Economies (Wall Street Journal)
  17. Fed TALF Revision Could Help Clear CLO Logjam (Wall Street Journal)

The Thomas Rhett “Beer Can’t Fix” Stock Market (and Sentiment Results)…

This week we chose Thomas Rhett’s “Beer Can’t Fix” song to capture the current theme of the Stock Market.  After a near 35% rally off the March 23rd (spike) lows, we have been digesting the gains sideways for ~4 weeks now. Continue reading “The Thomas Rhett “Beer Can’t Fix” Stock Market (and Sentiment Results)…”

Be in the know. 15 key reads for Wednesday…

  1. Tesla Wins as County Blinks First in Standoff Over Plant (Barron’s)
  2. Fed spells out terms of TALF rescue facility, potentially paving way to unleash funds in weeks (MarketWatch)
  3. Hedge Funds, Go Home — Japan Is Closing the Door (Bloomberg)
  4. Steve Cohen, Jeff Bezos Achieve Scroll Fame at Robin Hood Telethon (Bloomberg)
  5. Hedge Fund That Never Loses Bets Big on South Africa Debt (Bloomberg)
  6. House Democrats unveil new $3 trillion coronavirus relief bill (CNBC)
  7. Gilead strikes deal to make remdesivir coronavirus treatment in 127 countries (CNBC)
  8. What Doesn’t Kill Fast Food Makes It Stronger (Wall Street Journal)
  9. The Emerging-Market Debt Trap (Wall Street Journal)
  10. Live Nation to issue $800 million of bonds that mature in 2027 (MarketWatch)
  11. Boyd Gaming is offering $500 million of senior notes that mature in 2025 (MarketWatch)
  12. Royal Caribbean pledges 28 ships as collateral for $3.3 bln bond offering (Reuters)
  13. CNBC’s Jim Cramer: Elon Musk may be a ‘zealot’ but he’s ‘dead right’ about his decision to break the rules (MarketWatch)
  14. China will step up macro-economic adjustments to offset pandemic impact – state TV (Reuters)
  15. Powell Says Washington Will Need to Spend More to Battle Downturn (Wall Street Journal)