MorningUpdate - Options Trading Email
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New PriceWatch Alerts for GE, T, AMR, MRK, and More...
March 10, 8:30 AM EST - Before the open... PriceWatch Alerts for
GE, T, AMR, MRK, HIG, HGSI, TOL, PAY, SYMC, SOHU, TIE, MGM, NBR,
ACE, and STEC, Market Overview, News Leaders and Laggards, Today's
Economic Calendar, and Index Support & Resistance Levels.
New PriceWatch Alerts for GE, T, AMR, MRK, HIG, HGSI, TOL, PAY,
SYMC, SOHU, TIE, MGM, NBR, ACE, and STEC
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- General Electric Co. (NYSE: GE)
Last Price 16.49 - SEP 16.00 CALL OPTION@ $1.45 -> 6.4% Return
(12.1% Annualized) assigned*
-- MGM Mirage (NYSE: MGM)
Last Price 11.54 - JUN 11.00 CALL OPTION@ $1.62 -> 10.9% Return
(39.3% Annualized) assigned*
-- Nabors Industries Ltd. (NYSE: NBR)
Last Price 22.09 - APR 22.00 CALL OPTION@ $1.15 -> 5.1% Return
(48.6% Annualized) assigned*
-- ACE Limited (NYSE: ACE)
Last Price 50.43 - AUG 50.00 CALL OPTION@ $2.70 -> 4.8% Return
(10.6% Annualized) assigned*
-- STEC, Inc. (Nasdaq: STEC)
Last Price 12.75 - MAY 12.50 CALL OPTION@ $1.67 -> 12.8% Return
(64.1% Annualized) assigned*
-- AT&T, Inc. (NYSE: T)
Last Price 25.56 - JUL 26.00 CALL OPTION@ $0.67 -> 4.5% Return
(12.6% Annualized) assigned*
-- AMR Corporation (NYSE: AMR)
Last Price 9.77 - AUG 9.00 CALL OPTION@ $1.93 -> 14.8% Return
(32.9% Annualized) assigned*
-- Symantec Corporation (Nasdaq: SYMC)
Last Price 17.20 - OCT 17.00 CALL OPTION@ $1.60 -> 9.0% Return
(14.9% Annualized) assigned*
-- Sohu.com Inc. (Nasdaq: SOHU)
Last Price 55.12 - APR 55.00 CALL OPTION@ $2.55 -> 4.6% Return
(44.4% Annualized) assigned*
-- Titanium Metals Corp. (NYSE: TIE)
Last Price 13.99 - JUN 14.00 CALL OPTION@ $1.35 -> 10.8% Return
(38.9% Annualized) assigned*
-- Merck & Co. Inc. (NYSE: MRK)
Last Price 37.04 - JUL 37.00 CALL OPTION@ $1.85 -> 5.1% Return
(14.6% Annualized) assigned*
-- Hartford Financial Services Group Inc. (NYSE: HIG)
Last Price 26.58 - APR 26.00 CALL OPTION@ $1.65 -> 4.3% Return
(41.2% Annualized) assigned*
-- Human Genome Sciences Inc. (Nasdaq: HGSI)
Last Price 31.81 - APR 32.00 CALL OPTION@ $2.22 -> 8.1% Return
(78.2% Annualized) assigned*
-- Toll Brothers Inc. (NYSE: TOL)
Last Price 20.14 - JUN 20.00 CALL OPTION@ $1.50 -> 7.3% Return
(26.4% Annualized) assigned*
-- VeriFone Holdings, Inc. (NYSE: PAY)
Last Price 22.65 - JUL 22.50 CALL OPTION@ $2.10 -> 9.5% Return
(26.8% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far this morning, Brown-Forman (BF.B), Analogic Corporation
(ALOG), and InterMune (ITMN) lead the list of companies with
positive news, while Collective Brands (PSS), Navistar
International (NAV), and Boston Beer Company (SAM) lead the list of
companies with negative news. Edison International (EIX), Analog
Devices (ADI), and Radian Group (RDN) were upgraded this morning,
while ING Group (ING), Companhia Vale do Rio (VALE), and Barclays
PLC (BCS) received downgrades.
MARKET OVERVIEW---------------------------------------------------
Overseas trading has a positive bias this morning, as seven of the
10 foreign indexes that we track are in positive territory. The
cumulative average return on the collective stands at a gain of
0.08%. In Asia, stocks were stuck in a tight range, with markets
focused on robust trade data out of China. Stronger-than-expected
exports and imports for February underlined the growth momentum in
the world's third-largest economy. However, economists were
hesitant to read too much into the figures due to a low base of
comparison and distortions caused by the Lunar New Year holiday.
Turning to Europe, trading was little changed after dipping in the
past two days, with firmer miners following a rise in metal prices
on strong imports and exports data from China offsetting weaker
pharmaceutical shares.
Stronger-than-expected economic data out of China is providing lift
for crude futures this morning, pushing the April contract 0.48%
higher to $81.88 per barrel. Meanwhile, the U.S. dollar is trading
flat heading into the open, as the U.S. Dollar Index is off 0.01%
at 80.58. Finally, gold is following crude higher, with futures
rising $5.60 to trade at $1,127.90 an ounce.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the Chicago Board Options Exchange (CBOE)
saw 1,857,159 call contracts traded on Tuesday, compared to 797,122
put contracts. The resultant single-session put/call ratio arrived
at 0.43, while the 21-day moving average slipped to 0.64.
SUPPORT & RESISTANCE LEVELS --------------------------------------
The S&P Depository Receipts (SPY) show support in the neighborhood
of $109.85 and resistance around $115.15. For the Nasdaq 100
(QQQQ), support is near $45.40 and resistance is around $47.05.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
10:00 a.m. Jan Wholesale Inventories
10:30 a.m. 3/6 Crude Inventories
2:00 p.m. Feb Treasury Budget
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
BFB 0.70
GU -0.11
JAS 1.33
SOL -0.08
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