May 28 Options Writing Trades Update

The Japan Nikkei lead the declines in Asia today with a 1.32% drop. Don't we just love the volatility? Other Asian indexes are mixed. Light, sweet crude fell $1.94 to $126.91 per barrel in premarket electronic trading on the New York Mercantile Exchange. A decline in oil prices helped stocks finish higher Tuesday. Oil prices were also pressured by the dollar, which gained ground against the yen and euro. Investors who buy commodities such as oil as a hedge against inflation when the dollar falls tend to sell when the greenback strengthens. Also, a rising dollar makes oil more expensive to overseas investors. Looking at the futures, US stocks are headed for a moderately higher open Wednesday as investors awaited a government report on consumer purchases of big-ticket items.