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SPY

The SPDR S&P 500 ETF Trust (NYSE:SPY) is experiencing historically low levels of relative volatility, ranking in the bottom 3 percentile for relative historical volatility over the past twelve months. However, near-term Implied Volatility (IV) term structure reveals elevated volatility levels for contracts expiring on 9/14/2023, and backwardation properties for the 9/17/2023 expiry. The volatility smile for SPY options expiring on 9/14/2023 and 9/18/2023 shows a disparity between implied volatility for calls and puts, indicating a demand for downside risk protection.

Portfolio Pulse from Dara Akhavein

September 13, 2023 | 8:04 pm

CMI

Cummins (NYSE:CMI) has outperformed the market over the past 15 years, producing an average annual return of 10.19%. If an investor had bought $100 of CMI stock 15 years ago, it would be worth $436.54 today. The company currently has a market capitalization of $33.04 billion.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 8:00 pm

ITW

Illinois Tool Works (NYSE:ITW) has outperformed the market over the past 20 years, producing an average annual return of 9.99%. If an investor had bought $1000 of ITW stock 20 years ago, it would be worth $6,584.64 today.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 8:00 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has been outperforming Dogecoin but is potentially entering a bear flag pattern, indicating a possible downward trend. The crypto has been making a series of lower highs and lower lows, with resistance above at $0.00000738 and $0.00000774 and support below at $0.00000694 and $0.000006. The bear flag pattern would be negated if Shiba Inu regains the eight-day exponential moving average and the relative strength index rises.

Portfolio Pulse from Melanie Schaffer

September 13, 2023 | 7:48 pm

BAC

A significant amount of unusual options activity has been detected for Bank of America (NYSE:BAC), with a majority of investors taking a bullish stance. The trades range from $25.0 to $42.0 for Bank of America over the last 3 months. The current price of BAC is down -0.67% at $28.77. Analysts from Oppenheimer, RBC Capital, HSBC, and Wells Fargo have given price targets of $49, $35, $35, and $40 respectively.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 7:46 pm

AMZN

Amazon has opened its first sortation center in Japan, aiming to boost efficiency in its operations. The new facility will help Amazon to sort packages by destination, which will speed up delivery times and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 7:43 pm

MDB

A significant bearish stance has been taken on MongoDB (NASDAQ:MDB) by a large investor, as indicated by a large position in the company's publicly available options history. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. Whales have been targeting a price range from $130.0 to $520.0 for MongoDB over the last 3 months. MongoDB's current price is $370.79, down by 1.01%. Several financial institutions including Morgan Stanley, Citigroup, Argus Research, Truist Securities, and Barclays have maintained their positive ratings on MongoDB.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 7:31 pm

ROST

Ross Stores (NASDAQ:ROST) has outperformed the market over the past 20 years, producing an average annual return of 12.03%. If an investor had bought $100 of ROST stock 20 years ago, it would be worth $946.93 today.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 7:30 pm

NOW

ServiceNow (NYSE:NOW) has outperformed the market over the past 10 years by 18.11% on an annualized basis, producing an average annual return of 28.15%. If an investor had bought $1000 of NOW stock 10 years ago, it would be worth $12,093.64 today.

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 7:30 pm

BRPHF

BTCUSD

FTTUSD

SOLUSD

The U.S. Bankruptcy Court has granted permission to crypto exchange FTX to liquidate its cryptocurrency assets, valued at over $3.4 billion, to settle debts with creditors. FTX can now sell, stake and hedge its cryptocurrency assets. The exchange has also expressed interest in bringing on board Mike Novogratz from Galaxy Digital as an advisor. FTX disclosed its possession of $1.16 billion in Solana and an estimated $560 million in Bitcoin.

Portfolio Pulse from Murtuza Merchant

September 13, 2023 | 7:29 pm