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☆ Whenever volatility and uncertainty are higher, markets thin out, says Susquehanna's Chris Murphy
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhenever volatility and uncertainty are higher, markets thin out, says Susquehanna's Chris MurphyChris Murphy of Susquehanna joins CNBC's Kelly Evans and 'The Exchange' to discuss the options markets and why traders are being so cautious this week.

☆ Analysis: As worries over banks swirl, investors seek protection against market crash
▼ + stars: | 2023-03-17 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

The S&P 500 is down 5% from its early February high though it remains up 3% year to date. ... Now the downside tail has a lot more risk priced into it," said Chris Murphy, co-head of derivatives strategy at Susquehanna. Volatility in the Cboe Volatility Index (.VIX), which reflects expectations of stock volatility, has been muted by comparison, though the index hit a five-month high earlier this week. "That is something worth monitoring closely to gauge the expansion of risk within the system," he said. Reporting by Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ No White House visit for Israel's Netanyahu as US concern rises
▼ + stars: | 2023-03-16 | by ( Simon Lewis | ) www.reuters.com time to read: +5 min

WASHINGTON, March 16 (Reuters) - Eleven weeks into his third stint as Israel's prime minister, Benjamin Netanyahu has yet to be received at the White House, signaling apparent U.S. unhappiness over the policies of his right-wing government. The White House declined to confirm Netanyahu has yet to be invited. A State Department spokesperson referred Reuters to the Israeli government for information about the prime minister's travel plans. The United States has long been Israel’s main benefactor, sending more than $3 billion each year in military assistance. Baker later banned Netanyahu, at the time a deputy minister of foreign affairs, from the State Department after he criticized U.S. policy toward Israel.

[1/2] Saudi Crown Prince Mohammed bin Salman attends an Arab summit with U.S. President Joe Biden (not seen), in Jeddah, Saudi Arabia, July 16, 2022. If the resolution passes, the administration must submit the report within 30 days, or all security assistance to the country automatically stops. After the report is received, the act stipulates that Congress may adopt a joint resolution terminating, restricting or continuing security assistance to that country. Aides said it was too soon to assess how the resolution would be received, but they hoped it would trigger a broader conversation about human rights. Murphy, long a vocal critic of the conflict in Yemen and Riyadh's record on human rights, praised Biden for being willing to reassess ties.

☆ Credit Suisse plunge sends traders flocking to its U.S-listed options
▼ + stars: | 2023-03-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

That made Credit Suisse the fourth most heavily traded single-stock name in the U.S. options market on Wednesday. The surge in trading followed a near 31% tumble in Credit Suisse shares on Wednesday after Saudi National Bank (SNB) (1180.SE), which holds 9.88% of Credit Suisse (CSGN.S), said it would not buy more shares on regulatory grounds. Trading in Credit Suisse puts outnumbered that in its call options 1.7-to-1. "There's a lot of moving parts in the Credit Suisse trade right now with respect to a major credit event, European bank contagion, and the possibility of ECB intervention," said Steven Place, an independent options trader in Destin, Florida. For SPDR S&P regional banking ETF (KRE.P), the options trading action was a mix of investors taking profits on existing hedges while putting on new defensive positions, Susquehanna's Murphy said.

☆ As yields fall, some investors are flocking to rate-sensitive technology stocks
▼ + stars: | 2023-03-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

A sharp decline in bonds yields is providing much needed relief for big tech stocks that were under pressure in recent weeks. Yields fell drastically Monday as the collapse of Silicon Valley Bank wreaked havoc on the broader banking sector and pushed investors into safe haven assets. The move brought the 2-year Treasury yield to its biggest 3-day decline since 1987 , while the yield on the 10-year Treasury note hit its lowest level since February. Tech's suffered from extreme volatility in recent months as yields barreled toward multiyear highs, and the Federal Reserve restricted monetary policy to quell inflation. Higher rates typical means valuations are less attractive for tech stocks since future profits become less valuable.

☆ Options of SVB will not be automatically exercised, says Susquehanna's Chris Murphy
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptions of SVB will not be automatically exercised, says Susquehanna's Chris MurphyChris Murphy, Susquehanna co-head of derivative strategy, joins 'The Exchange' to discuss the options market response to Silicon Valley Bank's fallout, SVB's impact on regional bank policy, and sinking treasury rates following the SVB crisis.

☆ SVB debacle sparks rush to defensive options on fears of contagion
▼ + stars: | 2023-03-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement. With many stocks in the sector falling sharply on Friday, traders rushed in to defensive bets. SVB is battling cash burn due to declining deposits from startups struggling with a venture capital funding drought. While investors had largely shrugged off Silvergate’s troubles as strictly crypto-related, "(SVB Financial Group) was a giant wake-up call about the effects of rising rates and an inverted yield curve," Sosnick said. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ These 14 Democratic senators broke with Biden and voted against striking down the DC criminal code
▼ + stars: | 2023-03-09 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Most Democratic senators voted for a GOP-led resolution overruling recent changes to DC's criminal code. The 14 who voted against the resolution framed it in part as a show of support for DC statehood. Just 14 Democratic senators voted against the resolution. Ahead of the vote, DC Council Chairman Phil Mendelson even attempted to withdraw the criminal reform legislation in an attempt to prevent a Senate vote. Here are the 14 Democratic senators who voted against the resolution:

☆ Best place to get macro exposure is in the SPY ETF or SPY options, says Susquehanna's Murphy
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBest place to get macro exposure is in the SPY ETF or SPY options, says Susquehanna's MurphySusquehanna’s Chris Murphy joins Mike Santoli and the ‘CNBC Special: Taking Stock’ to discuss the explosion in options contracts that expire within 24 hours and what it means to the market.

☆ A growing group of lawmakers think TikTok is 'digital fentanyl' and want to ban it. Many others remain skeptical.
▼ + stars: | 2023-02-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

Some members of Congress have begun pushing to ban TikTok in the US. "I'm a little less enthusiastic about an all-out ban of it," said Republican Sen. Kevin Cramer of North Dakota. "I'm an incrementalist on a lot of things, and I would be on this as well," said Republican Sen. Cynthia Lummis of Wyoming. Last week, the Senate Judiciary Committee held a hearing on social media and the internet's impact on children. Democratic Sen. Mazie Hirono of Hawaii, another committee member, said she's most concerned about how social media platforms are impacting kids.

☆ Democrats Renew Push for Gun-Control Legislation
▼ + stars: | 2023-02-17 | by ( Eric Bazail-Eimil | ) www.wsj.com time to read: 1 min

Sen. Chris Murphy (D., Conn.) reintroduced the Background Check Expansion Act on ThursdayWASHINGTON—Democrats are renewing their push for tougher gun control, seeking to expand background checks and build on the passage of a compromise firearms package last year. Sen. Chris Murphy (D., Conn.), a longtime proponent of gun control in the Senate, reintroduced the Background Check Expansion Act on Thursday, a bill that would expand federal background checks to all gun sales and private transfers between individuals. Bipartisan legislation last year expanded checks for buyers under 21 years old.

☆ ‘Volmageddon 2.0’: How Options are influencing markets
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email‘Volmageddon 2.0’: How Options are influencing marketsChris Murphy, Susquehanna co-head of derivative strategy, and CNBC’s Mike Santoli join ‘The Exchange’ to discuss the uptick in short-dated options, which some believe is threatening market stability, and whether the stock rallies are a dangerous mirage.

☆ Biden lauds 'bipartisan progress' as he dines with Republican, Democratic governors
▼ + stars: | 2023-02-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/5] U.S. President Joe Biden speaks to the U.S. governors and their spouses for a black-tie dinner in the East Room of the White House in Washington, D.C., U.S. February 11, 2023. REUTERS/Ken CedenoWASHINGTON, Feb 11 (Reuters) - U.S. President Joe Biden appealed to Republican and Democratic governors on Saturday to continue working across political divides to improve Americans' lives and rebuild the economy after the hardships brought by the COVID-19 pandemic. Speaking at a black-tie dinner at the White House attended by Vice President Kamala Harris and 31 governors, Biden said the passage of laws on investing in infrastructure and domestic manufacture of semiconductors by both Republicans and Democrats was evidence of "some bipartisan progress." Republican Governor Spencer Cox of Utah, vice-chair of the National Governors Association, said it was "very symbolic" to have Republicans and Democrats "breaking bread together" at the White House. The bipartisan laws passed last year were gamechangers for the U.S. economy, New Jersey Governor Chris Murphy, a Democrat who chairs the association, told a governors' event at the White House on Friday.

☆ Four takeaways from Biden's State of the Union speech
▼ + stars: | 2023-02-08 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

While Democrats were quick to rise in applause, Republicans applauded only sporadically, and remained silent when Biden listed his administration's accomplishments. Several Republican lawmakers remained seated throughout. "Social Security and Medicare are a lifeline for millions of seniors. We will not cut Social Security!" Murphy, a Democratic ally of the president, called the speech "the best the president has ever been" and touted Biden's "metaphysical connection" to the viewing public.

☆ Powell's speech triggered record options bets, topping even the meme stock frenzy
▼ + stars: | 2023-02-07 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

he asked in a note, adding that the previous record amount of call buying activity was in January 2021 just as the meme stock frenzy peaked. Those options were big market bets, like in the SPDR S & P 500 ETF and Invesco QQQ Trust, which represents the Nasdaq 100. SPY 5D line spy Much of the volume was in zero-day to expiration options, which expire on the same day. "The reality is if you bought the stock market in January 2021 and held onto it for any time period, you would be happy." Stock Chart Icon Stock chart icon spyMuch of the volume was in zero-day to expiration options, which expire on the same day.

☆ The market's technical picture is getting active traders very excited
▼ + stars: | 2023-01-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The S & P closed at a new high for the year Thursday, up 5.75% for the year. Consider: The S & P is breaking a long-term downtrend (lower lows and lower highs) that goes back to the historic high on January 4, 2022. The percentage of stocks in the S & P 500 trading above their 200-day moving average is expanding. The rally is broad-based, with both value and growth stocks in the S & P 500 up almost equally (6.2% and 5.4%, respectively). "You have to get through the 4,100 level, you have to stop the routine of lower highs and lower lows," one trader told me.

WASHINGTON — A top Republican who negotiated the bipartisan gun law that passed last year said he doesn't expect to see new legislative action on gun violence despite the recent mass shootings in California. Asked whether the House intends to take up legislation to combat mass shootings, House Speaker Kevin McCarthy, R-Calif., gave no indication that it would. Biden negotiated the assault weapons ban of 1994, which expired in 2004. “It’s time we pass an assault weapons ban in this country. I’m the author of the assault weapons ban in 1994.

☆ Elon Musk testifies he would have sold SpaceX stock to take Tesla private in 2018
▼ + stars: | 2023-01-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Elon Musk told a San Francisco federal court on Monday that he could have sold shares of SpaceX to take Tesla private in 2018. Trading in Tesla was halted after his tweets, and its share price remained volatile for weeks. Musk said under oath, "SpaceX stock alone meant 'funding secured' by itself. I sold Tesla stock to complete the Twitter transaction. Musk recently became the CEO of social media business Twitter after leading a $44 billion leveraged buyout of the company in October 2022.

☆ Wall Street's fear gauge has dipped below a key level. Why that could mean more trouble for stocks
▼ + stars: | 2023-01-17 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Each time, the S & P 500 subsequently sold off. "We're watching the 50-day moving average [on the VIX] as a risk metric for the S & P 500," she said. "Looking at past major routs in the S & P 500, it's always associated with a VIX at a much higher level. Emanuel's strategy involves buying March 31 S & P 500 puts and calls that are out of the money. Murphy said it seems the volatility in the S & P 500 will be to the downside.

☆ U.S. Chamber of Commerce threatens to sue the FTC over proposed ban on noncompete clauses
▼ + stars: | 2023-01-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

Signage is seen on the Chamber Of Commerce Building in the Manhattan borough of New York City, New York, U.S., April 21, 2021. A major business advocacy group has pledged to sue the Federal Trade Commission if it acts on a proposal to ban noncompete clauses in worker contracts — an issue that has bipartisan support among lawmakers. The U.S. Chamber of Commerce, which represents some 3 million businesses, is prepared to sue if the FTC continues to push for a proposal that prohibits companies from imposing noncompete clauses on employees, President and CEO Suzanne P. Clark told reporters Thursday. The Chamber called the proposal "blatantly unlawful" and ignorant of established state laws where "noncompete agreements are an important tool in fostering innovation and preserving competition." Banning noncompete agreements is "clearly authority that (the FTC doesn't) have and no one has ever thought that they had," Bradley said.

☆ The stock market set-up heading into the crucial CPI report Thursday morning
▼ + stars: | 2023-01-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Bespoke Investment Group noted that in the first seven trading days of 2023, 175 stocks in the Russell 1000 are up 10% or more. Going into 2023, the pain trade was that the market would rally. "An in-line report doesn't cut it, in-line has already been sold," Chris Murphy, co-head of derivative strategy at Susquehanna, told me. "In my mind it [CPI] would have to be below consensus for the market to rally," he told me. He is particularly watching rental costs: "For inflation to come down, rents have to come down, and if they don't the Fed is going to be concerned."

☆ Analysis: With banks' results on tap, options traders prepare for volatility
▼ + stars: | 2023-01-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

REUTERS/Brian SnyderNEW YORK, Jan 10 (Reuters) - Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. The trade would be profitable if the ETF’s shares slipped below $33 by mid-February, a 6% decline from current levels. The S&P 500 bank index (.SPXBK) fell 21.6% last year, compared to a compared to a 19.4% decline for the S&P 500 as a whole. Options on big bank stocks, on average, are pricing the largest post-earnings moves in the last two years, an analysis by Susquehanna International Group showed. "The trading bias in the options heading into big bank earnings has been buying volatility and protecting positions," said Chris Murphy, co-head of derivatives strategy at Susquehanna International Group.

It absolutely is,” said former Rep. Mick Mulvaney, R-S.C., a co-founder of the House Freedom Caucus, home to the rebels. It foreshadows more divisions in the narrow House majority, which will have to compromise with a Democratic-controlled Senate and President Joe Biden to keep the government functioning and avert economic crises. 2 GOP Rep. Steve Scalise of Louisiana pleaded with colleagues to support McCarthy so the House could begin to advance conservative goals like bolstering border security and energy independence. But we can’t start fixing those problems until we elect Kevin McCarthy as our next speaker,” he said on the floor. “This is going to be everyday in the House Republican majority,” Sen. Chris Murphy, D-Conn., said on Twitter.

☆ The Investing Club's top 5 things to watch in the market Friday: Stocks lower, China Covid cases, Dogs of the Dow
▼ + stars: | 2022-12-30 | by ( Zev Fima | ) www.cnbc.com time to read: +2 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

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