MorningUpdate - Options Trading Email
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New PriceWatch Alerts for WMT, JPM, NOK, VLO, and More...
March 11, 8:30 AM EST - Before the open... PriceWatch Alerts for
WMT, JPM, NOK, VLO, WSM, PAG, BRCM, BMY, WFR, and RYL, Market
Overview, News Leaders and Laggards, Today's Economic Calendar, and
Index Support & Resistance Levels.
New PriceWatch Alerts for WMT, JPM, NOK, VLO, WSM, PAG, BRCM, BMY,
WFR, and RYL
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- Wal-Mart Stores Inc. (NYSE: WMT)
Last Price 53.63 - SEP 55.00 CALL OPTION@ $1.70 -> 5.9% Return
(11.3% Annualized) assigned*
-- Broadcom Corp. (Nasdaq: BRCM)
Last Price 32.83 - MAY 32.00 CALL OPTION@ $2.36 -> 5.0% Return
(25.5% Annualized) assigned*
-- Bristol-Myers Squibb Company (NYSE: BMY)
Last Price 25.65 - SEP 26.00 CALL OPTION@ $1.23 -> 6.5% Return
(12.4% Annualized) assigned*
-- MEMC Electronic Materials Inc. (NYSE: WFR)
Last Price 13.63 - JUL 13.00 CALL OPTION@ $1.75 -> 9.4% Return
(26.9% Annualized) assigned*
-- Ryland Group Inc. (NYSE: RYL)
Last Price 24.57 - JUL 24.00 CALL OPTION@ $2.50 -> 8.7% Return
(24.9% Annualized) assigned*
-- JPMorgan Chase & Co. (NYSE: JPM)
Last Price 42.93 - JUN 42.00 CALL OPTION@ $3.05 -> 5.3% Return
(19.4% Annualized) assigned*
-- Nokia Corp. (NYSE: NOK)
Last Price 14.56 - OCT 15.00 CALL OPTION@ $1.01 -> 10.7% Return
(17.8% Annualized) assigned*
-- Valero Energy Corp. (NYSE: VLO)
Last Price 20.52 - JUN 20.00 CALL OPTION@ $1.66 -> 6.0% Return
(22.1% Annualized) assigned*
-- Williams-Sonoma Inc. (NYSE: WSM)
Last Price 24.39 - AUG 22.50 CALL OPTION@ $3.30 -> 6.7% Return
(15.0% Annualized) assigned*
-- Penske Automotive Group, Inc. (NYSE: PAG)
Last Price 15.97 - AUG 17.50 CALL OPTION@ $1.00 -> 16.9% Return
(37.8% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far this morning, Smithfield Foods (SFD), Gymboree Corporation
(GYMB), and The Buckle (BKE) lead the list of companies with
positive news, while Yahoo! (YHOO), China Sunergy Co. (CSUN), and
StemCells, Inc. (STEM) lead the list of commpanies with negative
news. Level 3 (LVLT) and Dr Pepper Snapple (DPS) were upgraded this
morning, while Bed Bath & Beyond (BBBY), CapitalSource (CSE), and
Airgas (ARG) received downgrades.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is mixed this morning, as only four of the 10
foreign indexes that we track are in positive territory. The
cumulative average return on the collective stands at a loss of
0.06%. In Asia, key indices pared early gains after tracking
advances in the U.S. markets. Markets were focused on a slew of
economic data out from China, including Chinese consumer inflation
for February, which rose a higher-than-expected 2.7% year-on-year,
adding to expectations that China will take more monetary
tightening steps. Turning to Europe, shares were slightly lower in
late morning trade on Thursday as weaker banking and commodity
stocks offset gains in utilities and automobiles.
Concerns about a stronger Chinese yuan are applying pressure to the
U.S. dollar this morning, as the U.S. Dollar Index is off 0.10%
this morning at 80.39. Commodities, meanwhile, are trading flat
heading into the open. Specifically, the April crude futures
contract is up 0.10% at $82.51 per barrel, while gold has slipped
$1.30 to $1,106.80 an ounce.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the Chicago Board Options Exchange (CBOE)
saw 1,973,787 call contracts traded on Wednesday, compared to
989,039 put contracts. The resultant single-session put/call ratio
arrived at 0.50, while the 21-day moving average slipped to 0.63.
SUPPORT & RESISTANCE LEVELS --------------------------------------
The S&P Depository Receipts (SPY) show support in the neighborhood
of $113.85 and resistance around $115.30. For the Nasdaq 100
(QQQQ), support is near $45.40 and resistance is around $47.30.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
8:30 a.m. 2/27 Initial Claims
8:30 a.m. 3/6 Continuing Claims
8:30 a.m. Jan Trade Balance
12:00 p.m. Q2 Flow of Funds
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
ARO 0.95
JTX 0.48
NSM 0.18
PLL 0.47
SHFL 0.08
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