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☆ China-linked ETFs draw bullish options bets ahead of Biden-Xi meet
▼ + stars: | 2023-11-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Other large China-focused ETFs, including the iShares MSCI China ETF (MCHI.O), KraneShares CSI China Internet ETF (KWEB.P), also showed upbeat options activity, according to Trade Alert data. "It certainly seems that there is generally bullish positioning ahead of the meeting," said Steve Sosnick, chief strategist at Interactive Brokers, noting that the positions had been built up over several days. Reuters GraphicsInvestors' nascent enthusiasm for Chinese stocks is at odds with how these ETF's have performed this year. Daniel Kirsch, head of options at Piper Sandler, said recent bullish options flows into KWEB may be to do with a combination of enthusiasm ahead of the Biden-Xi meeting as well as results from Chinese e-commerce companies JD.com and Alibaba .

Persons: Brendan McDermid, Joe Biden's, Xi Jinping, Steve Sosnick, Biden, Xi, Sosnick, Daniel Kirsch, Piper Sandler, JD.com, Kirsch, Saqib Iqbal Ahmed, Suzanne McGee, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, U.S, iShares, KraneShares CSI China Internet, Interactive, Federal, Economic Cooperation, Reuters Graphics Investors, Research, Biden, Thomson Locations: New York City, U.S, China, KraneShares, San Francisco, Asia

[1/5] A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 14 (Reuters) - A benign U.S. inflation report is bolstering hopes that the Federal Reserve can bring down consumer prices without hurting the economy, a so-called Goldilocks environment that investors believe will benefit stocks and bonds. This does feel like a Goldilocks moment for the entire market.”The data fueled a powerful rally in stocks and bonds. The S&P 500 (.SPX) was up about 2% on the day, on track for its biggest one-day rise since January. Still, some investors believed it was too early to call a victory in the fight against inflation.

Persons: Brendan McDermid, Eric Kuby, bearish, “, Daniel Kirsch, Piper Sandler, Thomas Hayes, ”, Brian Rose, Jamie Cox, Lewis Krauskopf, Saqib Iqbal Ahmed, Davide Barbuscia, Ankika Biswas, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, North Star Investment Management Corp, Thomson Reuters, BofA's Global, Fed, Fund, UBS Global Wealth Management, Harris Financial, Thomson Locations: New York City, U.S, Thomson Reuters United States, New York, Bengaluru

☆ Why burying power lines is an effective, but very expensive way to prevent wildfires
▼ + stars: | 2023-10-21 | by ( Katie Brigham | ) www.cnbc.com time to read: +2 min

Five years ago, PG&E's equipment sparked the deadly Camp Fire, which destroyed the town of Paradise, California, and killed 85 people. But just a year later, in the same county, PG&E's equipment started another catastrophic fire, prompting the utility to announce its extensive undergrounding plan. The utility has undergrounded 350 miles of power lines so far this year, and more than 600 miles since 2021. While Martin says moving power lines underground reduces ignition risk by 98%, it comes at a steep cost. The bill would be footed by PG&E's customers, who already face some of the highest rates in the nation.

Persons: Jamie Martin, Martin, Katy Morsony, Morsony, Daniel Kirschen, Kirschen Organizations: Pacific Gas and, undergrounding, California Public Utilities Commission, Reform, University of Washington Locations: California, Maui, Paradise , California

☆ Rivian options buyers may be helping drive stock higher
▼ + stars: | 2023-07-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Some 831,000 Rivian options contracts traded on Monday, or two times its average daily volume. Much of the options trading has consisted of investors buying "super short-dated calls," said Daniel Kirsch, head of options at Piper Sandler, adding that the options activity had helped drive Rivian's shares higher. Large purchases of out-of-the-money call options - contracts that are not profitable but stand to gain in value as the stock climbs - can sometimes give an additional lift to a stock's price. The phenomenon has occurred with shares of various companies popular with options buyers over the last few years, from AMC to Tesla. Options on another EV name, Nio Inc , were also actively traded on Monday, making it the 10th most heavily traded individual company in the options market.

Persons: Daniel Kirsch, Piper Sandler, Kirsch, Rivian, Saqib Iqbal Ahmed, Ira Iosebashvili, Will Dunham Organizations: YORK, Rivian Automotive, AMC, Tesla, Apple Inc, Inc, Thomson Locations: U.S

☆ Out-of-sync U.S. stocks hide market risks
▼ + stars: | 2023-07-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Investors expect stocks to move increasingly out of sync as shown by the Cboe 3-Month Implied Correlation Index (.COR3M), which measures the 3-month expected average correlation across the top 50 value-weighted S&P 500 stocks. The last time 3-month implied correlation got this low was in early 2018, just before the February 2018 urge in market volatility dubbed 'Volmageddon.' Much of today's low stock market correlation has to do with the gulf in performance between a handful of mega caps driving the benchmark index higher and the rest of the market. "You have this view in the market that this is a stock picker's market because correlation is low," EAB Investment Group's Holzer said. "Because correlations are so low, index options have gotten incredibly cheap," said Daniel Kirsch, head of options at Piper Sandler said.

Persons: Dow, Arnim Holzer, Group's Holzer, Jack Ablin, Ablin, Kris Sidial, Sidial, Daniel Kirsch, Piper Sandler, Saqib Iqbal Ahmed, Megan Davies, Nick Zieminski Organizations: YORK, Dow Jones, EAB Investment, UBS, U.S . Federal, Cresset, Ambrus, Thomson

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