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Proprietary Trading Morning Market Update July 4 2013

Top Economic News:

European Stocks Advance as ECB Holds Interest Rates. European stocks rose, halting a two-day drop, as the European Central Bank held its main refinancing interest rate at a record low, and Portugal's political leaders sought to hold the coalition government together. U.S. index futures and Asian shares climbed.

Wall St. Posts modest gains in short volatile session. Stocks ended slightly higher in a volatile half-day session on Wednesday as traders squared positions before the holiday and Friday's job market data.

Pre-Market Activity:

$SPY -0.30%

$VXX +0.59%

$TLT +0.26%

$UUP -0.26%

$USO +2.10%

$UNG -1.19%

$GLD +0.74%

$SLV +2.10%

Click to enlarge

Early Movers:

$NDLS +4.24%

$ARMH +2.61%

$OSTK -4.19%

$AA -1.92%

$CS -2.98%

$ZNGA +3.06%

$TS -2.19%

Click to enlarge

Proprietary Trading Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

Revised From

5-Jul

8:30 AM

Initial Claims

29-Jun

-

345K

348K

346K

-

5-Jul

8:30 AM

Continuing Claims

15-Jun

-

2960K

2955K

2965K

-

5-Jul

8:30 AM

Nonfarm Payrolls

Jun

-

175K

166K

175K

-

5-Jul

8:30 AM

Nonfarm Private Payrolls

Jun

-

190K

180K

178K

-

5-Jul

8:30 AM

Unemployment Rate

Jun

-

7.60%

7.60%

7.60%

-

5-Jul

8:30 AM

Hourly Earnings

Jun

-

0.20%

0.20%

0.00%

-

5-Jul

8:30 AM

Average Workweek

Jun

-

34.5

34.5

34.5

-

5-Jul

10:30 AM

Natural Gas Inventories

29-Jun

-

NA

NA

NA

-

Click to enlarge

Proprietary Trading Earnings Announcements:

Company

Symbol

EPS

Time

Add to My

Conference

Estimate*

Calendar

Call

Beale PLC

BAE.L

N/A

Before Market Open

Add

 

China Finance Online Co Ltd

JRJC

N/A

After Market Close

Add

Listen

Fashion B Air SA

ALFBA.PA

N/A

Before Market Open

Add

 

Low and Bonar PLC

LWB.L

N/A

Before Market Open

Add

 

NCC Group PLC

NCC.L

N/A

Before Market Open

Add

 

Richelieu Hardware Ltd

RCH.TO

0.58

Time Not Supplied

Add

 

Zoo Digital Group PLC

ZOO.L

N/A

Time Not Supplied

Add

 
Click to enlarge

Unusual Options Activity:

FTNT- The Aug. $20/$22 call spread was put on 10k times for a $0.45 debit. Volume was above the open interest in both options. Shares of Fortinet are trading right up against the 50-day EMA, higher by 5.25% on the session.

PBF- 1,000 Dec. $20 puts were bought for $2.00 each, against open interest of 321 contracts. PBF Energy shares are hitting a new all-time low today, down 3.72%.

PSX- 2k Nov. $62.50 calls were bought for $2.10-$2.30 each, against open interest of 1,073 contracts. Shares of Phillips 66 were briefly under the lower Bollinger Band, but have since then moved off of the lows.

SU- The Aug. $27/$31 bull risk reversal was put on 10k times for roughly a $0.30 debit. Volume was well above the open interest in both options. He/she is betting on Suncor Energy shares being above $31.30 on August options expiration.

AAPL- Shares of Apple are off of the highs of the day, but still remain in positive territory. The call to put ratio in the July 5 weekly options is 1.34, once again led by activity in the $420 calls.

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