MorningUpdate - Options Trading Email

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New PriceWatch Alerts for WFC, PRU, SNDK, GG, and More...

December 30, 8:30 AM EST - Before the open... PriceWatch Alerts for 
WFC, PRU, SNDK, GG, and JWN, Market Overview, News Leaders and 
Laggards, Today's Economic Calendar, and Index Support & Resistance 
Levels.

New PriceWatch Alerts for WFC, PRU, SNDK, GG, and JWN

PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS-------------- 
-- Wells Fargo & Company (NYSE: WFC)
Last Price 26.68 - FEB 26.00 CALL OPTION@ $1.80 -> 4.5% Return 
(31.6% Annualized) assigned* 
-- Prudential Financial, Inc. (NYSE: PRU)
Last Price 50.74 - FEB 50.00 CALL OPTION@ $3.20 -> 5.2% Return 
(36.3% Annualized) assigned* 
-- SanDisk Corp. (Nasdaq: SNDK)
Last Price 28.53 - FEB 28.00 CALL OPTION@ $2.74 -> 8.6% Return 
(60.1% Annualized) assigned* 
-- Goldcorp Inc. (NYSE: GG)
Last Price 39.51 - FEB 39.00 CALL OPTION@ $2.63 -> 5.7% Return 
(40.3% Annualized) assigned* 
-- Nordstrom Inc. (NYSE: JWN)
Last Price 38.39 - FEB 38.00 CALL OPTION@ $2.20 -> 5.0% Return 
(35.1% Annualized) assigned* 

*Annualized returns are shown for comparison purposes only
 
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NEWS LEADERS AND LAGGARDS-----------------------------------------  
So far this morning, Broadcom (BRCM) and Santarus (SNTS) lead the 
list of companies with positive news, while Tessera Technologies 
(TSRA) and Pfizer (PFE) lead the list of companies with negative 
news. NVIDIA (NVDA) and Marvell Technology Group (MRVL) were 
upgraded this morning, while no major stocks have received 
downgrades.

MARKET OVERVIEW---------------------------------------------------
Overseas trading has a negative bias this morning, as three of the 
10 foreign indexes that we track are in positive territory. In 
Asia, the various markets closed mixed, with Japan Airlines' 
problems putting pressure on the market in Tokyo, and a rise in 
financials propping up stocks in Shanghai. Japan Airlines, or JAL, 
plunged 23.9% on growing concern the struggling airline may file 
for bankruptcy protection. JAL is studying a bankruptcy protection 
filing in case the airline's retirees refuse to accept a proposed 
cut in their pension allowances, Dow Jones Newswires reported. 
Meanwhile, Japan's government released a draft of an economic 
growth strategy that aims for average annual inflation-adjusted 
expansion of more than 2% over the next 10 years. In mainland 
China, the market outperformed the region, led by the banking 
sector on expectations new yuan loans in December will likely 
exceed 300 billion Chinese yuan ($43.9 billion), compared with 
November's 295 billion Chinese yuan. 

Turning to Europe, stocks slipped after setting fresh 14-month 
highs in the previous session. In economic news, the European 
Central Bank reported that the annual measure of money supply in 
the euro-zone economy contracted on an annual basis for the first 
time in November, while lending by banks to the private sector 
continued to shrink. 

Cold winter weather sweeping across the upper reaches of the U.S. 
continued to provide a tailwind for crude futures, with the front-
month contract reaching an intraday peak of $79.39 per barrel -- 
its best price since Nov. 23. Black gold was also boosted by 
expectations for a bullish inventory report from the government 
today, with analysts forecasting a weekly decline in crude and 
distillate supplies. Gold futures were pressured lower on Tuesday 
by a solid session for the U.S. dollar. The greenback garnered some 
buying attention in the wake of Tuesday's lukewarm economic 
reports, gaining ground versus both the yen and the euro. Plus, 
with most of the equities market holding steady on positive ground, 
there was very little safe-haven demand for the malleable metal. By 
the close, gold for February delivery gave back $9.80 to finish at 
$1,098.10 an ounce.

PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the Chicago Board Options Exchange (CBOE) 
saw 984,411 call contracts traded on Tuesday, compared to 617,069 
put contracts. The resultant single-session put/call ratio arrived 
at 0.63, while the 21-day moving average held at 0.62.

SUPPORT & RESISTANCE LEVELS --------------------------------------
The S&P Depository Receipts (SPY) show support in the neighborhood 
of $111.19 and resistance around $113.03. For the Nasdaq 100 
(QQQQ), support is near $44.29 and resistance is around $46.30.

TODAY'S ECONOMIC CALENDAR ----------------------------------------
9:45 a.m.		Dec		Chicago PMI
10:30 a.m.		12/25		Crude Inventories

EARNINGS EXPECTED TODAY (w/current estimates) --------------------
No major earnings announcements expected today.