SPY Sep 2021 120.000 put

OPR - OPR Delayed Price. Currency in USD
1.0500
0.0000 (0.00%)
As of 12:50PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close1.0500
Open1.0500
Bid1.0800
Ask1.2700
Strike120.00
Expire Date2021-09-17
Day's Range1.0500 - 1.0500
Contract RangeN/A
Volume1
Open Interest917
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    "There are renewed expectations that the Pfizer vaccine will be ready for approval by the end of October, which is sooner than expected - so that's very good news," said Thomas Hayes, managing member at Great Hill Capital LLC in New York. Merger news also perked up investors as Analog Devices Inc announced a $21 billion deal to buy rival Maxim Integrated Products Inc , sending its shares up 13.0%. Pepsi Co gained 1.5% as it benefited from a surge in at-home consumption of salty snacks such as Fritos and Cheetos during lockdowns.

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  • The SPY ETF Proves Simpler Is Often Better
    InvestorPlace

    The SPY ETF Proves Simpler Is Often Better

    The SPDR S&P 500 ETF (NYSEARCA:SPY) is often highlighted for its status as the world's largest exchange-traded fund, but the SPY ETF has more to offer besides heft. At a time when some fund options are increasingly complicated, SPY's simplicity stands out.Source: Shutterstock Let's start with the basics. The SPY ETF comes with a modest fee of 0.0945% per year, or $9.45 on a $10,000 investment. As its name implies, it follows the S&P 500 -- one of the world's most widely observed equity benchmarks.To be precise, SPY holds 505 stocks, owing to multiple share classes for constituents such as Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) and a few others.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe S&P 500 is weighted by market capitalization, meaning the largest U.S.-based company by market value, currently Microsoft (NASDAQ:MSFT), is the largest component. Then it goes Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and so on down the line. Due to the ascent of Microsoft, Apple, Amazon and Alphabet into the $1-trillion club, SPY's top 10 holdings combine for roughly 29% of the fund's weight.That's near historical highs for the S&P 500. All About Market Cap WeightingAs the ETF industry has evolved, so has the way index providers weight equities within benchmarks. Now investors can get their hands on hundreds of ETFs that employ weighting methodologies such as equal weight, weighting by factors such as growth or value, and dividend yield. Some indices go even further, scoring stocks based on profitability, cash flow or management-related criteria.The selling point for many of these ETFs was borne out of the criticism of market capitalization weighting. Market cap weighting itself was largely borne out of the tech bubble of 2020. Critics assert that while cap weighting does represent the market's collective wisdom, the strategy can also lead late investors into overvalued stocks. * The 7 Best Stocks to Invest in Right Now Another frequently levied critique of cap-weighted strategies is that investors miss out on the benefits of the small size factor. Though more volatile, small-cap equities offer better rates of growth and historically outpace large-caps over long holding periods."Companies with smaller relative market caps, particularly firms that are of higher quality, have historically been associated with returns that beat a broad market index," according to Morningstar. Is SPY's Mega-Cap Status So Bad?The SPY isn't just a large-cap fund. It's well into mega-cap territory -- the weighted average market value of its holdings is $409 billion.That's not a knock on the SPY ETF. Rather, it's worth noting that cap-weighted indices and their corresponding funds are usually cost-efficient. Because of this, they're harder to beat."Market efficiency is often cited as a big reason why market-cap-weighted indexes, and low-cost funds that track them, are so notoriously difficult to beat. Any stock's price, and its corresponding weight, should incorporate all known information -- including its current value and expected return -- limiting the chance that anyone can gain an advantage."How does this translate to SPY's performance? Say the S&P 500 jumps 20% in a given year. That 20% will be the return SPY investors get, minus the fund's annual fee. The Bottom Line on the SPY ETFLike any fund that weights stocks by market capitalization, SPY is reactive. This means the weights assigned to rising stocks increase after the stock price increases. Conversely, faltering stocks are assigned lower weights as they decline, not in advance of that downside.So SPY isn't predictive. Not much in equity markets is. Still, the ETF does an efficient job of highlighting what's working today in equity markets. For example, technology stocks represent 27.5% of the fund's weight because investors have long favored that sector. On the other hand, financials are struggling this year. The sector entered 2020 as the third-largest exposure in SPY, but has since been relegated to the fifth spot.For alpha-hungry investors, augment a stake in SPY with growthier or riskier fare. However, for new investors or those that don't want to do a lot of leg work, the fund is a sensible option as a cornerstone portfolio holding.Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post The SPY ETF Proves Simpler Is Often Better appeared first on InvestorPlace.

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    Benzinga

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    The SPDR S&P 500 ETF Trust (NYSE: SPY) has come roaring back in recent months, gaining more than 40% from its March lows on expectations that the economy will bounce back from the COVID-19 shutdowns in the second half of 2020 and into 2021.Unfortunately for investors, Seabreeze Partners President Doug Kass recently said that the economic fallout from COVID-19 could last for much longer than the market seems to realize."In aggregate terms, COVID-19 will likely have a sustained impact on the domestic economy -- in reduced production and profitability -- for several years, and in some industries, forever," Kass wrote.13 Reasons Why In fact, in his bear-case recovery scenario, Kass said many severely impacted industries may only ever recover between 80% and 85% of their prior peak business. Here are 13 reasons why Kass is concerned about the economic recovery. * Labor-intensive industries gutted by the outbreak, including retail, education and restaurants, may simply never fully recover completely from COVID-19 given the secular challenges they face. * Tangential industries that revolve around office space, shopping malls and other businesses that may never fully recover will also likely see their recoveries capped at around 80% of prior peaks. * Unemployment and underemployment will exacerbate the growing income and wealth gaps, which will have negative social and economic implications. * Less revenue means federal and local governments will be forced to cut services and jobs. * Tax rates will likely rise as governments look to offset lower revenue bases. * Corporations have added $2.5 trillion to their outstanding $16 trillion in non-financial debt in 2020, setting the stage for lackluster capital spending in the next several years. * The virus has created new costs of doing business for surviving companies to keep customers and employees safe, which will eat into margins and profits. * "Zombie" companies that are hanging on by a thread due to government stimulus and near-zero interest rates are competing aggressively with more healthy companies on costs, driving profitability downward as they take longer and longer to die. * Small businesses, which have historically been the largest job creators, have been hit hardest by the shutdowns. * Permanent job losses will be larger than expected and will eat into consumption. * The financial stress of the COVID-19 outbreak will lead surviving companies to be more cautious with their balance sheets, carrying more of a capital buffer and taking less risks on growth and investing. * Prolonged low interest rates puts pressure on pension funds and banks. * Rising political divisiveness over the handling of the outbreak and the economic fallout could increase partisanship and decrease the probability of constructive fiscal policy.Benzinga's Take The conditions Kass describes certainly seem to represent a worst-case outlook for investors, but they are certainly concerns worth monitoring given that the S&P 500 seems to already be pricing in a strong recovery in 2021 and beyond. Kass said there is real risk S&P 500 earnings may not exceed 2019 levels until 2023.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:5 Keys To Investing In The Second Half Of 2020 US Companies In 'Much Better Shape' Than Wall Street Thinks: Here's WhySee more from Benzinga * 5 Keys To Investing In The Second Half Of 2020 * US Companies In 'Much Better Shape' Than Wall Street Thinks: Here's Why * 2 Reasons Spiking COVID-19 Cases Doesn't Mean You Should Be Dumping Stocks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.