Daily Options Report

Janet Yellen (not shown) all over the tape today with such helpful info as this.

11:39 YELLEN SAYS TOTAL AND CORE INFLATION WILL MODERATE IN NEXT COUPLE OF YEARS - Reuters

So we have that going for us. Which is nice.

Back in the real world, some serious meltage in the momo darlings of shipping and ag continues. Volatility however is either drifting or just holding steady.

Take this POT. Stock down about 10% over the past couple weeks, yet options sitting right around the 6 month lows.

So what to do?

Options are not a bad buy here by any stretch imho. But it is not my ideal setup for acquiring some gamma. The stock has now found a range. You have the rising 50 Day MA just below ($183.74) on one end, and the recent highs around $210 on the other. A directional play with calls maybe, but not that optimistic about volatility in general here right now.