MorningUpdate - Options Trading Email
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MORNING UPDATE: PriceWatch Alerts for GS, WMT, AMZN, LEAP, and FRO
March 24 - 8:30 AM EST - Before the open... PriceWatch Alerts for
GS, WMT, AMZN, LEAP, and FRO, Market Overview, News Leaders and
Laggards, and Today's Economic Calendar.
New PriceWatch Alerts for GS, WMT, AMZN, LEAP, and FRO
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- Goldman Sachs Group Inc. (NYSE: GS)
Last Price 179.63 - APR 180.00 CALL OPTION@ $8.50 -> 5.2% Return
(63.1% Annualized) assigned*
-- Wal-Mart Stores Inc. (NYSE: WMT)
Last Price 53.23 - JUN 52.50 CALL OPTION@ $4.50 -> 4.5% Return
(17.7% Annualized) assigned*
-- Amazon.com Inc. (Nasdaq: AMZN)
Last Price 73.19 - JUL 72.50 CALL OPTION@ $9.55 -> 13.9% Return
(42.0% Annualized) assigned*
-- Leap Wireless International Inc. (Nasdaq: LEAP)
Last Price 42.44 - APR 40.00 CALL OPTION@ $4.30 -> 4.9% Return
(59.3% Annualized) assigned*
-- Frontline Ltd. (NYSE: FRO)
Last Price 44.86 - MAY 45.00 CALL OPTION@ $2.70 -> 6.7% Return
(42.4% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, The Bear Stearns Companies, J.P.Morgan Chase, and
Amazon lead the list of companies with the most news stories while
Career Education Corp. and Suntech Power Holdings are showing a
spike in news. Tiffany & Co., Sirius Satellite Radio, and Walgreens
have the highest srtIndex scores to top the list of companies with
positive news while WellPoint and Siemens lead the list of
companies with negative news reports. Nike has popped up with a
high positive news sraIndex score.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is pretty rough this morning, as only 3 of the 11
foreign indices that we track are in positive territory. The
cumulative average return on the collective stands at a loss of
0.74%. Trading in Asia was broadly higher this morning, with
Taiwanese shares surging on China Airlines and financials such as
Cathay Financial Holding Co., as investors hoped the weekend
election result would lead to closer ties with China. Meanwhile,
trading in Japan pulled back from its session highs as weaker-yen-
spurred gains in exporters were offset by declines in insurers.
Shanghai-listed stocks suffered steep losses on worries about a
slowdown in January-March corporate earnings. By the close, the
Weighted Index in Taipei soared 4%, extending gains into a fifth
session. The Japanese Nikkei closed relatively unchanged, while
China's Shanghai Composite plunged 4.5%. Elsewhere, South Korea's
Kospi added 0.6%. Stock markets in Australia, New Zealand and Hong
Kong were closed for a holiday Monday.
Gold futures plunged another 2.7% on Thursday, sliding further
after the malleable metal's worst 1-day drop in nearly 2 years. A
strengthening U.S. dollar and traders taking profits off the table
ahead of a long holiday weekend fueled the broad sell-off. Against
this backdrop, April gold futures fell $25.30 to end at $920 an
ounce.
Crude oil futures slowed their recent decline on Thursday,
finishing the session modestly lower after breaching the
psychological $100-per-barrel mark earlier in the session. Traders
continued to dump the commodity due to increasing economic
concerns. For the day, crude oil for May delivery ended down 70
cents, or 0.7%, at $101.84 per barrel. For the week, crude oil
prices fell $8.37 per barrel.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 1,813,852 call contracts
traded on Thursday, compared to 1,455,255 put contracts. The
resultant single-session put/call ratio slipped to 0.80, while the
21-day moving average held at 0.88.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
10:00 a.m. Feb Existing Home Sales
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
COMS 0.03
PVH 0.53
SONC 0.15
TIF 1.21
WAG 0.67
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