Paper bought 4834 AIG November 32 Puts for $.35 when stock was trading $35.14
Paper bought 13,941 PM Oct 87.5 Puts for $.14 (2.3 times usual volume) when stock was trading $93.62
Paper bought 10,000 BMC Jan 45-50 Call Spread for $1.65 (11.2 times usual volume) when stock was trading $43.48
Metal futures and crude oil futures were mostly flat all day with gold up about 3 points and crude up less than half of a point. Natural gas gained 6.61%.
AIG ($33.03 | – 0.81%) had the highest volume of the day trading 217 million shares. Today’s volume is a result of the US Treasury selling off its stake in AIG reducing their stake from 53% to 16%. The Treasury gained $15 billion in profits from the sale of AIG stock. AIG has been trading between 30 and 35 since mid-August.
Since the poor report on jobless claims last week and drop in exports in the international report this morning, speculation about a QE3 has increased. An asset purchase could improve exports by reducing the value of the US dollar.
Important news besides Apple’s (AAPL | 660.59 [-2.15]) iPhone 5 debut tomorrow (possibly available for purchase by September 21st) is Facebook (FB | 19.43 [+0.52]) CEO will speak publicly since the IPO debacle. Facebook has continued its climb up the fourth day in a row hitting prices it hasn’t seen since August 24th.
Texas Instruments Inc. (TXN) announced second-quarter revenue of $3.34 billion, net income of $446 million and earnings per share of 38 cents. The stock stayed even today, slightly down $0.09, but the after-hours announcement caused the stock to surge $0.39 in after hours trading. TXN 52 week low and high is 25.60 -34.24 respectively.
Some big economic events this Thursday include Jobless claims, Produce Price Index, and Bernanke’s Press Conference.
AIG is a half of a point higher in pre-market trading. AIG has a 52-week high/low of 35.36/19.18. The stock hit its yearly low at the end of September last year. Since July, the stock has floated above thirty dollars and in the last 3 weeks has been pushing thirty-five dollars, up almost 5% in the last month. AIG reported second quarter growth in early August, growing its insurance operating income 26%. Six major analysts have downgraded AIG’s outlook, as the Fed, possibly holding back dividends among other controls, will regulate AIG.
On Friday, Google (GOOG | 706.15[+6.75%]) broke above the $700 price line, a new four year high. The 52-week range for GOOG is now 480.60 – 712.25, a range of about $230. In pre-market trading GOOG is down less than a tenth of a point, with an overnight high of $709.72, currently sitting at $708.84.
US indices futures are all down. Dow futures have dropped 21 points, NASDAQ futures down five and a half, and the S&P futures down 3.25. News from the National Bureau of Statistics yesterday had exports rising lower than expectations and imports to china decreasing. Consumer credit reports come out today and international trade balance for the US is announced tomorrow.