​Daily Bulletin: Tuesday Jan. 27

With the S&P 500 face-planting 1.34% today, the reaction in the VIX was fairly limited until later in the day, hitting about 17 at the time of writing. Some interesting VIX positioning is expected tomorrow, according to strategists. Also in flow today, Apple has officially kicked off tech week with stellar earnings, taking the Wall Street estimates and crushing them to dust. The firm sold 9 million more iPhones than expected, pushing earnings to $3.06 a share on record revenue of $74.6 billion. That’s great news for savvy investors that have spent the last week snapping up 115 weekly calls, as the stock was already touching the strike during afterhours trading Tuesday. Facebook and Alibaba are up next. We also detail San Bernardino County Employees’ Retirement Association’s vol management strategy. The firm was selling volatility in certain emerging markets as the VIX rose during December and January. It’s also open to call strategies on Russia. In London, a former Morgan Stanley salesman has joined Catley Lakeman.