Nasdaq Shorts Pay Off, but the Largesse May Not Last
If you believe the options market, the Nasdaq is going down in flames.
So if you own a portfolio tilted heavily toward the highflying index, now may be the best time for selling call options on the Nasdaq.
"People are just way, way too pessimistic about the Nasdaq," noted Jerry Wang, strategist with
Schaeffer Investment Research in Cincinnati.
TSC pointed out
Among other interesting option trades, State Street (STT) posted an outsized trade of 510 March 75 put options, 510 contracts traded vs. the open interest of 86. Shares of the stock were up 13/16 to 27 5/16, and the puts, generally purchased as bets that a stock will fall, were up in price, 5/16 ($31.25) to 2 9/16 ($256.25).
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV