MorningUpdate - Options Trading Email
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MORNING UPDATE: PriceWatch Alerts for YHOO, FCX, DRYS, SYMC, and
ATI
March 19 - 8:30 AM EST - Before the open... PriceWatch Alerts for
YHOO, FCX, DRYS, SYMC, and ATI, Market Overview, News Leaders and
Laggards, and Today's Economic Calendar.
New PriceWatch Alerts for YHOO, FCX, DRYS, SYMC, and ATI
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- Yahoo! Inc. (Nasdaq: YHOO)
Last Price 27.66 - APR 27.50 CALL OPTION@ $1.84 -> 6.5% Return
(74.2% Annualized) assigned*
-- Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
Last Price 98.69 - APR 95.00 CALL OPTION@ $8.15 -> 4.9% Return
(56.2% Annualized) assigned*
-- DryShips, Inc. (Nasdaq: DRYS)
Last Price 62.00 - APR 60.00 CALL OPTION@ $7.40 -> 9.9% Return
(112.8% Annualized) assigned*
-- Symantec Corporation (Nasdaq: SYMC)
Last Price 16.87 - JUL 17.50 CALL OPTION@ $1.15 -> 11.3% Return
(33.6% Annualized) assigned*
-- Allegheny Technologies Inc. (NYSE: ATI)
Last Price 76.80 - APR 75.00 CALL OPTION@ $5.90 -> 5.8% Return
(66.0% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, Morgan Stanley, United Technologies, and Bank of New
York lead the list of companies with the most news stories while
James River Coal Company and General Mills are showing a spike in
news. LM Ericsson, Intuit Inc., and Intuit Inc. have the highest
srtIndex scores to top the list of companies with positive news
while Charming Shoppes Inc. and Amgen lead the list of companies
with negative news reports. Motorola has popped up with a high
positive news sraIndex score.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is mixed this morning, as just 6 of the 11 foreign
indices that we track are in positive territory. The cumulative
average return on the collective stands at a gain of 0.78%. In
Asia, stocks were broadly higher due to a rally in financial stocks
after the Federal Reserve's rate cut and better-than-expected
profit reports from U.S. investment banks. China's Shanghai
Composite snapped a 5-session losing streak, despite the central
bank's decision to raise commercial banks' credit requirements by
half a percentage point to a record 15.5%.
Across the pond in Europe, stocks are hovering in negative
territory in midday trading. Pressuring regional indices lower were
signs that economic weakness is starting to impact Europe following
a report from Sony Ericsson, a joint mobile-phone venture between
Sony and Ericsson, stating that moderating sales growth in mobile-
phone units will hurt sales and profit growth in the first quarter.
Elsewhere, U.K. low-cost airline EasyJet warned that second-half
fuel costs may rise by an additional $90 million. The company
cited the rise in forward prices for jet fuel since its last update
on February 7.
Crude for May delivery maintained its rally higher amid yesterday's
Fed-induced rally, adding $4.27 to close at $108.50 per barrel.
Trading in the commodities pits continues to be dominated by a weak
U.S. dollar. On that front, the greenback's late-session rebound
proved to be inconsequential to the fact that the U.S. currency is
close to record lows against some of its key foreign rivals. Crude
oil prices, which are denominated in U.S. dollars, tend to rise
when the dollar falls, as a weaker U.S. currency makes crude less
expensive.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 1,677,078 call contracts
traded on Tuesday, compared to 1,316,666 put contracts. The
resultant single-session put/call ratio dropped to 0.79, while the
21-day moving average rose to 0.87.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
10:30 a.m. 3/15 Crude Inventories
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
BGP 1.42
CTAS 0.36
DFA 0.40
GIS 0.79
GES 0.57
MS 1.03
NKE 0.80
ROST 0.70
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