MorningUpdate - Options Trading Email
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New PriceWatch Alerts for EBAY, GLW, MTL, SPG, and FAST
April 10 - 8:30 AM EST - Before the open... PriceWatch Alerts for
EBAY, GLW, MTL, SPG, and FAST, Market Overview, News Leaders and
Laggards, and Today's Economic Calendar.
New PriceWatch Alerts for EBAY, GLW, MTL, SPG, and FAST
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS--------------
-- eBay Inc. (Nasdaq: EBAY)
Last Price 31.58 - JUL 30.00 CALL OPTION@ $3.50 -> 6.8% Return
(24.7% Annualized) assigned*
-- Corning Inc. (NYSE: GLW)
Last Price 25.30 - MAY 25.00 CALL OPTION@ $1.35 -> 4.4% Return
(42.1% Annualized) assigned*
-- Mechel Open Joint Stock Company (NYSE: MTL)
Last Price 142.88 - MAY 140.00 CALL OPTION@ $13.30 -> 8.0% Return
(77.2% Annualized) assigned*
-- Simon Property Group Inc. (NYSE: SPG)
Last Price 96.97 - MAY 95.00 CALL OPTION@ $6.10 -> 4.5% Return
(43.7% Annualized) assigned*
-- Fastenal Co. (Nasdaq: FAST)
Last Price 46.82 - MAY 45.00 CALL OPTION@ $3.70 -> 4.4% Return
(41.9% Annualized) assigned*
*Annualized returns are shown for comparison purposes only
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, Yahoo!, American Airlines, and Microsoft lead the
list of companies with the most news stories. Millennium
Pharmaceuticals, Aeropostale, and Celgene have the highest srtIndex
scores to top the list of companies with positive news while Rite
Aid and Pier 1 Imports, Inc. lead the list of companies with
negative news reports. Costco Wholesale Corp. has popped up with a
high positive news sraIndex score.
MARKET OVERVIEW---------------------------------------------------
Overseas trading is mixed this morning, with 4 of the 11 foreign
indices that we track in positive territory. The cumulative average
return on the collective stands at a loss of 0.45%. In Asia, the
Hang Seng Index jumped 0.8% on the heels of Industrial & Commercial
Bank of China forecasting strong profit growth. The Shanghai
Composite, which lost more than 5% yesterday, managed to end the
day with a gain, with crude-related equities rallying on record-
high oil prices.
Across the pond in Europe, it's all about interest-rate decisions.
With sagging home prices and diminishing consumer confidence, the
Bank of England cut its key interest rate by a quarter-point to 5%.
The move by the Monetary Policy Committee was in line with
economists' predictions. Meanwhile, the European Central Bank is
expected to maintain the interest-rate status quo for at least a
month, if not the second quarter. At last check, the FTSE 100 Index
was down 52.6 points, or 0.88%.
Gold followed crude's lead yesterday, posting a strong gain amid a
rush to commodities. Weakness in the U.S. dollar also lent support
to the precious metal; the greenback lost ground against the euro
ahead of an interest-rate decision from the European Central Bank.
The gold metal wrapped up the trading day with a gain of $19.50 to
settle at $937.50 an ounce.
Following a surprise decline in U.S. crude inventories on
Wednesday, supply concerns gripped the market and black gold prices
raced to a new record close. May-dated crude oil rallied to an
intraday peak of $112.21 per barrel, but pulled back slightly from
this lofty height as the afternoon wore on. By the close, crude for
May delivery gained $2.37 to finish at $110.87 per barrel.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 959,677 call contracts
traded on Wednesday, compared to 857,492 put contracts. The
resultant single-session put/call ratio slipped to 0.89, while the
21-day moving average held at 0.86.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
8:30 a.m. 04/05 Initial Claims
8:30 a.m. Feb Trade Balance
2:00 p.m. Mar Treasury Budget
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
DNA 0.82
PIR 0.07
RAD -0.07
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