MorningUpdate - Options Trading Email
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MORNING UPDATE: PriceWatch Alerts for C, BIDU, HAL, MRVL, and INTU
March 27 - 8:30 AM EST - Before the open... PriceWatch Alerts for
C, BIDU, HAL, MRVL, and INTU, Market Overview, News Leaders and
Laggards, and Today's Economic Calendar.
New PriceWatch Alerts for C, BIDU, HAL, MRVL, and INTU
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- Citigroup Inc. (NYSE: C)
Last Price 22.05 - APR 22.50 CALL OPTION@ $1.21 -> 8.0% Return
(121.1% Annualized) assigned*
-- Baidu.com, Inc. (Nasdaq: BIDU)
Last Price 241.50 - APR 230.00 CALL OPTION@ $24.60 -> 6.0% Return
(91.9% Annualized) assigned*
-- Halliburton Company (NYSE: HAL)
Last Price 38.97 - JUL 37.50 CALL OPTION@ $3.70 -> 6.3% Return
(20.1% Annualized) assigned*
-- Marvell Technology Group Ltd. (Nasdaq: MRVL)
Last Price 11.55 - AUG 12.50 CALL OPTION@ $1.25 -> 21.4% Return
(54.5% Annualized) assigned*
-- Intuit Inc. (Nasdaq: INTU)
Last Price 27.70 - MAY 27.50 CALL OPTION@ $1.60 -> 5.4% Return
(37.7% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, ConAgra Foods, Williams-Sonoma, and McCormick &
Company lead the list of companies with the most news stories while
CNOOC Limited and Dycom Industries, Inc. are showing a spike in
news. Wet Seal Inc., General Electric, and Citigroup have the
highest srtIndex scores to top the list of companies with positive
news while Lennar Corp. and Oracle lead the list of companies with
negative news reports. Nasdaq Stock Market has popped up with a
high positive news sraIndex score.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is mixed this morning, with 7 of the 11 foreign
indices that we track in positive territory. The cumulative average
return on the collective stands at a loss of 0.2%. In Asian
trading, China's Shanghai Composite was hit the hardest, falling
5.4% to levels not seen since April 2007. Baoshan Iron & Steel took
one of the biggest hits in the region, dropping 9% after revealing
fiscal 2007 net income declined 3% in the wake of higher costs.
Across the pond in Europe, things looked a little more optimistic.
Swedish retailer Hennes & Mauritz – Europe's second-largest
clothier – reported first-quarter profit of $485 million, docking
28% higher than analysts predicted. As a result of the positive
surprise, H&M shares tacked on more than 4%. On the flip side,
British-traded Wolfson Microelectronics announced its products
wouldn't be included in a coming portable media player slated to be
released by a "major Tier 1 customer." In U.K. trading, Wolfson
shares fell more than 18%.
With the U.S. dollar falling on poor economic data, gold futures
rallied on the news. The precious metal was also buoyed by a
dismal day in the equities market. Gold for April delivery surged
$14.20, or 1.5%, to settle at $949.20 an ounce yesterday. Other
metals followed suit, with silver, platinum, and copper closing
higher.
Commodities traders took their cue from yesterday's crude-oil
inventory report, which revealed that U.S. stockpiles were
unchanged in the last week. The news sent crude prices surging,
since most analysts were expecting a weekly increase of 1.5 million
barrels. Black gold prices were also supported by weakness in the
dollar; the greenback slipped under the weight of weaker-than-
expected economic data. By the close, May-dated crude tacked on
$4.68, or 4.6%, to finish at $105.90 per barrel.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 1,198,413 call contracts
traded on Wednesday, compared to 934,742 put contracts. The
resultant single-session put/call ratio rose to 0.78, while the 21-
day moving average held at 0.88.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
8:30 a.m. Q4 GDP - Final
8:30 a.m. Q4 Chain Deflator
8:30 a.m. 03/22 Initial Claims
8:30 a.m. Feb Personal Income and Spending
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
APOL 0.52
CAG 0.39
DSW 0.06
LEN -1.07
MKC 0.38
RHT 0.19
WSM 1.12
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