MorningUpdate - Options Trading Email
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MORNING UPDATE: PriceWatch Alerts RIMM, AMZN, WFC, RIO, and NSM
March 7 - 8:30 AM EST - Before the open... PriceWatch Alerts for
RIMM, AMZN, WFC, RIO, and NSM, Market Overview, News Leaders and
Laggards, Today's Economic Calendar, and the Quote Of The Day.
New PriceWatch Alerts for RIMM, AMZN, WFC, RIO, and NSM
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- Research In Motion Ltd. (Nasdaq: RIMM)
Last Price 97.92 - APR 95.00 CALL OPTION@ $10.05 -> 8.1% Return
(67.3% Annualized) assigned*
-- Amazon.com Inc. (Nasdaq: AMZN)
Last Price 62.74 - APR 60.00 CALL OPTION@ $6.00 -> 5.7% Return
(47.7% Annualized) assigned*
-- Wells Fargo & Company (NYSE: WFC)
Last Price 27.83 - APR 27.50 CALL OPTION@ $2.20 -> 7.3% Return
(60.5% Annualized) assigned*
-- Companhia Vale do Rio Doce (NYSE: RIO)
Last Price 34.11 - APR 32.50 CALL OPTION@ $3.10 -> 4.8% Return
(39.9% Annualized) assigned*
-- National Semiconductor Corp. (NYSE: NSM)
Last Price 16.34 - AUG 15.00 CALL OPTION@ $2.50 -> 8.4% Return
(18.8% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, American Electric Power, Affiliated Computer
Services, and McAfee Inc. lead the list of companies with the most
news stories while MF Global Ltd. and Alliance Data Systems are
showing a spike in news. Baker Hughes Inc., Ciena Corp., and
Comcast Corp. have the highest srtIndex scores to top the list of
companies with positive news while AMBAC Financial Group and MBIA
lead the list of companies with negative news reports. Fording
Canadian Coal Trust has popped up with a high positive news
sraIndex score.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is abysmal this morning, with all of the 11
foreign indices that we track in negative territory. The cumulative
average return on the collective stands at a loss of 1.86%. Asian
markets fell after yesterday's foreclosure news from the Street
intensified concerns about the economy. More specifically, the
Mortgage Bankers Association said the U.S. foreclosure rate jumped
to a record high in the fourth quarter, while the Fed revealed
Americans' home debt surpassed their equity for the first time
since the numbers began recording in 1945. The Hang Seng index took
the biggest hit, falling more than 840 points, or 3.6%, to teeter
at the 22,500 level. Meanwhile, India's primary index declined 566
points, or 3.42%, to 15,975.
Across the pond in Europe, investors seemed to be on par with their
Asian counterparts, as indices fell on U.S. economic worries.
Investors were also bracing themselves for more U.S. economic data,
with a key U.S. jobs report slated for release later today. While
most European indices were in the red, the losses weren't nearly as
deafening as in Asia. The FTSE 100 Index lost 66.7 points, or
1.16%, while the Frankfurt DAX fell nearly 70.5 points, or 1.07%.
Crude futures raced to a new record high yet again yesterday,
boosted by weakness in the U.S. dollar and Wednesday's unexpected
decline in inventories. Additionally, OPEC nations Ecuador and
Venezuela have moved troops to their borders following a Colombian
raid in Ecuador.Tensions between the oil-producing countries only
served to exacerbate investors' supply concerns, and April-dated
crude skipped to a 95-cent gain to close at $105.47 per barrel,
just short of its intraday peak of $105.97.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 1,110,581 put contracts
traded on Thursday, compared to 993,119 call contracts. The
resultant single-session put/call ratio docked at its highest level
in months, coming in at 1.12, while the 21-day moving average
remained at 0.79.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
8:30 a.m. Feb Nonfarm Payrolls, Unemployment Rate
8:30 a.m. Feb Hourly Earnings, Average Workweek
3:00 p.m. Jan Consumer Credit
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
CIEN 0.40
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