By Lawrence G. McMillan
With this issue, we attempted to return to the normal publishing schedule – the 2nd and 4th Thursdays of the month. However, due to some scheduling issues, the full newsletter was not available until Sunday, July 26th, although the Hotline was published on time on Friday, July 24th.
Most of this newsletter was written after the close of trading on Thursday, July 23rd. But the Volatility Derivatives article (p.12), was written later and a recommendation was added there that was not in the original Hotline. See page 12.
There are five Thursdays in July, so the next issue after this one will be published on the 2nd Thursday of August – August 13th. Hence there are three weeks until the next publications date. There will be weekly Hotlines.
The feature article discusses the new $VIX weekly futures. There will surely be more articles on this topic as the weeks go by.
On page 3, there is an article discussing an expanded approach to earnings-driven straddle buys. Four recommendations are made on page 5.
Our market comment is on page 5. $SPX continues to remain with the trading range.
Other recommendations include a put sale in IBM (page 8) and three spreculative recommendations in CBI, HPQ, and Cocoa futures (page 9).■
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