Signs of cooling in the labor market and services sector reinforced views that the Fed was ending its rate-raising cycle, with Treasury rates falling and the fear gauge, the VIX, seeing its biggest five-day drop in 21 months. The S&P 500 climbed above its 50-day moving average after rising 6 percent last week for its best week since November 2022.
On the data front, the U.S. services sector expanded at its weakest pace in five months, job growth slowed and the unemployment rate rose to a nearly two-year high. Nonfarm payrolls increased by 150,000 in October after September's downward revision of 297,000, the unemployment rate climbed to 3.9 percent, and monthly salary growth slowed.
On the political and economic front, the Federal Open Market Committee voted Wednesday to leave interest rates unchanged at a 22-year high. Fed Chairman Jerome Powell said whether the central bank needs to raise rates again is an open question and is "proceeding cautiously," an assessment that typically indicates the Fed is reluctant to raise rates anytime soon.
According to CME's FedWatch tool, traders on Friday priced in a 95 percent chance that the Fed would not raise rates at its next meeting, up about 15 percent from the day before.
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FANNG option active
$Microsoft(MSFT)$ 330 lots of put orders $MSFT 20240216 320.0 PUT$
$Amazon.com(AMZN)$ As Thanksgiving and Halloween approached, selling put options became the main order $AMZN 20231222 126.0 PUT$
Option buyer open position (Single leg)
Buy TOP T/O:
$GOOGL 20251219 170.0 CALL$ $AMD 20231208 114.0 CALL$
Buy TOP Vol:
$RIG 20260116 3.0 PUT$ $AAPL 20231215 85.0 PUT$
Note: This image data is from Tiger PC. This screening is a significant buy open position for options contracts in the market. The purchase of a call option means that the trader believes that the underlying has upward momentum, and the purchase of a put option means that the trader believes that the underlying has downward momentum. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.
Option seller open position (Single leg)
Sell TOP T/O:
$JNJ 20231117 165.0 PUT$ $COIN 20231110 88.0 CALL$
Sell TOP Vol:
$LUV 20231222 20.0 PUT$ $SHOP 20231222 49.0 PUT$
Note: This image data is from Tiger PC. This screen is a significant sell open position for an option contract in the market. A sell of a call option means that the trader believes that the underlying trend has peaked, and a sell of a put option means that the trader believes that the underlying trend has bottomed. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.
Options portfolio open position
Note: This image data is from Tiger PC. This screening is a significant portfolio of options contracts in the market. Portfolio opening includes a variety of underlying trends, requiring traders to further master the basic knowledge of options for analysis and judgment.
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