August 31, 2009
Good morning. Sort of an inside week for the market last week, what we in the business would call a premium sellers dream. The SPY was up a whole .41 on the week, moving from 102.97 to 103.38 (.4%). The VIX was down a little, from 25.01 to 24.76, not much of a drop considering how little movement there was. For those looking to buy long term put protection, as we do in the PIP Program, the cost for at the money put protection for December of 2011 is in the 15.5-17% of the underlying range for 28 months.
November 28, 2008
Good morning! Where do I start? Since the last time I have written Jon and I have been removed from the radio show on WSCR, the market has declined to levels that would indicate that the upcoming recession will be longer and deeper than anyone imagined, we have a new government forming by the day, investors are nervous, and a lot of people have lost enough money to cause serious life-style revisions going forward. Nothing seems remotely positive on that list, other than everyone is “hoping” the new administration has more imagination and more feel for regular people than the last. They sure will need it.