- BusinessBusiness Insider•12 hours ago
Speculative bets that the Dow will run higher from here are at a record high. In a note to clients out on Wednesday, David Rosenberg at Gluskin Sheff noted that speculative long contracts — or bets that stocks are going higher — on the Dow at the Chicago Board of Trade recently hit a record of 38,382. Combine this with long bets on the S&P 500 rising to the highest level in three years and you have a recipe for concerns about the market echoed most forcefully by market legend Jeremy Grantham earlier this year: a blow-off top.
- BusinessCNBC.com•14 hours ago
Bank of America's summer surge has some traders betting on further upside for the stock. Wanting to cash in, one trader in particular made a $1.2 million bet on the bank that could see him reaping rewards this Friday. On Tuesday morning, one trader bought about 100,000 September 2nd weekly 16-strike calls for 12 cents per share, or $12 per options contract. The trade was made when Bank of America was trading at around $15.90, and it has a break-even level of $16.12. If the stock closes below $16 on Friday, the entire $1.2 million spent in options premium will be lost. While the trade initially looked good, with BofA closing at $16.19 on Tuesday, the stock sold off Wednesday morning. Still, through
- financeNicole Sinclair•13 hours ago
Both Donald Trump and Hillary Clinton have been doing their best to appeal to business owners on the campaign trail. Presidential candidate Hillary Clinton recently rolled out what she calls a job-creating package of reforms to jumpstart small business startups specifically. Karen Mills, who serves