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January 24 Equities Commentary: Scott Bauer

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floor of the CME Group. And today was really a seesaw day back and forth in the marketplace. Lots of lack of direction, if you will. Saw some good earnings coming out, lot of the chip-makers, and we'll get Intel after the close today, but chip-makers really leading that space higher today, very, very strong. But still, the weight of the government shutdown, the weight of China tariff talk, and the, quite frankly, the dismal news coming out this morning from the ECB and Mario Draghi really weighing on the market. There's just this big push and pull. Like I said, we'll get Intel after the close today. Could be a big market mover. But right now, there's still so much overhang on this marketplace, that even the positive earnings we've seen so far with some pretty decent guidance moving forward is not really accelerating this marketplace going forward. Earlier this morning, to add confusion to the overall marketplace, we heard Wilbur Ross come out and say we're miles and miles apart from a deal with China, and just moments ago, Secretary Mnuchin came out and said we're getting closer and closer to a deal. So we've got that kind of dichotomy hanging over this marketplace. Yesterday, in the ES options here at the CME, about 520,000 options traded. It was actually very heavily traded and biased on the call side. Yesterday, 61% were puts. We typically see closer to 70% on a daily basis in the put market. In fact, yesterday, volume leaders, we saw some heavy buying for this week weekly and next week calls. So calls expiring tomorrow, the EOW 4 Janury 2675 calls, About 9,000 of those traded. Calls expiring tomorrow, the January 2705 calls, about 7,700. And then going out to the end of the month calls, - This is Scott Bauer on the the EOM 2740 calls traded about 7,000 times yesterday. Bitcoin, crypto space, been in the news a little bit for two reasons. One, for a lack of volatility and basically just no movement. We've been hovering around this $3,500 space back and forth, back and forth for the last week or two. Yesterday, we saw that one of the ETF applications that had been in the works for quite a while is being rescinded, being pulled. Now, that has typically been met with some negativity in the past year or so, past six months, as we've seen that news come out. This time, not. So maybe just maybe we're getting this consolidation and ready for a move higher here. Scott Bauer on the floor of the CME Group.

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Duration: 2 minutes and 46 seconds
Country: Andorra
Language: English
License: Dotsub - Standard License
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Views: 36
Posted by: cmegroup on Jan 24, 2019

January 24 Equities Commentary: Scott Bauer

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