We Interrupt this broadcast for a message from our sponsor, Kanye West:

What he should’ve said was…“Yo, DPeezy, I know you make your picks ovah heah and all and Imma let you finish, but everybody else on this site makes much better ones.”

And much like with his original outburst, he’d be right.  It’s hard out here for a ’swing’ trader when the market doesn’t swing, dammit!  So go read the others.  Because my screens turned up even more bearish entries…

Fortunately, today I avoided throwing more money at shitty puts.  Got rid of WSM puts; should’ve done the same with BGC.  Everything else holds the same, mostly unchanged (or already worthless).

For tomorrow, I’ll be looking to get some calls in TBT (@48) & USO (@37) and trying very hard not to buy puts in LRCX (@34), PCLN (@160), SAP (@50.50).

Quick Options Update:

• The put/call ratio continues to hold in the neutral range…$CPCI: 1.21.  The threshold gets a little narrower & higher, with the lower end ticking up to 1.07, with the upper end holding at 1.47.
• You might think the $CPCI is the most boring thing out there all of a sudden, but the $VIX has it beat…again flirting with 23, but not doing much else.
• For once, biotech options speculation is on the shit-end of the spectrum…20:1 put:call volume in PARD today, ahead of FDA data later this year.
• Of course there’s always AMGN, BCRX, DNDN, SVNT, VVUS to speculate on bullishly.  I personally tried to take some AMGN calls home, but it never got to my buy-point – they do have an FDA decision upcoming on Oct.14th…

Last, but not least, I’d like to give my whole-hearted endorsement for the new MUSE album - The Resistance.  Like the band, it’s an acquired taste…and I’ll be the first to admit that I’m a huge fanboy.   But I think it’s a truly epic listen…the album works as a whole, which is a rarity these days.  With echoes of past greats, such as Queen, it’s fucking awesome!  An early favorite is ‘Unnatural Selection‘…I love the bit around the 5min mark!