And just like that, we’re back to unchanged on the week. With futures pointing toward a higher open, the bounce in the market that began Wednesday has held into Friday morning and both the SPY and the VIX are about unchanged on the week.
SPY is now down about 6% from its highs. QQQ is about 7% from its highs. The big mover of the morning is Blue Apron, up 134% after being acquired by Wonder Group. Nike NKE is higher by 10% following earnings. Options had only priced about a 5% move, but now 3 out of the past 5 earnings Nike had moved at least 10%.
- Blue Apron Holdings Inc (APRN) +133.70%
- Nike Inc (NKE) +9.45%
- Carnival Corp (CCL) +2.77%
- Jd.com Inc ADR (JD) +2.73%
- Li Auto Inc ADR (LI) +2.64%
- Opendoor Technologies Inc (OPEN) +4.21%
- At 08:30 AM (EST) Core PCE Price Index YoY (Aug) Estimates: 3.9, Prior: 4.2
- At 08:30 AM (EST) Core PCE Price Index MoM (Aug) Estimates: 0.2, Prior: 0.2
- At 10:00 AM (EST) Michigan Consumer Sentiment (Sep) Estimates: 67.7, Prior: 69.5
Options AI Scanner Highlights:
- Overbought (RSI): SPLK (85), HZNP (81), BTU (70), USO (67)
- Oversold (RSI): DG (18), BA (19), NKE (20), HTZ (21)
- High IV: WKHS (+281%), IBM (+132%), BB (+130%), TLRY (+130%), KO (+125%), PEP (+125%)
- Unusual Options Volume: KMX (+1004%), PTON (+709%), NKE (+599%), COST (+419%), CCL (+416%), AZN (+398%), ONON (+267%), BUD (+266%)
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