The transports appear to be leading this leg down in the S&P 500. I believe there could be a possibility that some rails could retrace up to 50% in November.
Lets start with UNP.
Put action is pointing to a target price of 52.27 or lower.
Of course the other scenario is maybe UNP will stay above 59, we just have to wait and see. MMs who are playing this side of the coin have a lot of margin or perhaps they have already made their money when UNP was on its way down.
As for CSX, option activity seem to point to a possible low of 40.
As for the other two...BNI and NSC I have no comments on them at the moment. UNP tends to be a more speculative stock....so be careful out there...
Put action is pointing to a target price of 52.27 or lower.
Of course the other scenario is maybe UNP will stay above 59, we just have to wait and see. MMs who are playing this side of the coin have a lot of margin or perhaps they have already made their money when UNP was on its way down.
As for CSX, option activity seem to point to a possible low of 40.
As for the other two...BNI and NSC I have no comments on them at the moment. UNP tends to be a more speculative stock....so be careful out there...
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