Just as the summer is soon to be coming to a close, last Friday the sentiment was that summer rally is also soon coming to an end. On my latest appearance on the “Halftime Report”, I discuss how Vix levels remain high compared to the actual daily moves of the market. In the latest consumer data, I was a bit surprised that the market had taken a move to the downside. As the S&P dipped below 1,000, it may mean that it’s a good time to go long again.
As far as Financials, we are seeing a lot of put protection in Wells Fargo September and October puts. I think this amount of protection will allow investors to be confident when buying into pullbacks.
In the retail sector, with Target currently at 42.03 set to report on Tuesday, I see bullishness to the upside, with options behaving in line to what happened prior to Walmart’s report. Here my thoughts in greater detail by clicking below.