MorningUpdate - Options Trading Email
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MORNING UPDATE: PriceWatch Alerts for SBUX, MRK, ANF, and More...
April 16, 8:30 AM EST - Before the open... PriceWatch Alerts for
SBUX, NVDA, LM, APKT, ROVI, MRK, ANF, ETFC, ATI, and CROX, Market
Overview, News Leaders and Laggards, Today's Economic Calendar, and
Index Support & Resistance Levels.
New PriceWatch Alerts for SBUX, NVDA, LM, APKT, ROVI, MRK, ANF,
ETFC, ATI, and CROX
-- Starbucks (Nasdaq: SBUX)
Last Price 61.67 - JUL 60.00 CALL OPTION@ $4.35 -> 4.7% Return
(17.8% Annualized*) if assigned
-- NVIDIA (Nasdaq: NVDA)
Last Price 14.16 - SEP 14.00 CALL OPTION@ $1.68 -> 12.2% Return
(28% Annualized*) if assigned
-- Legg Mason (NYSE: LM)
Last Price 25.46 - MAY 25.00 CALL OPTION@ $1.50 -> 4.3% Return (48%
Annualized*) if assigned
-- Acme Packet (Nasdaq: APKT)
Last Price 27.41 - MAY 25.00 CALL OPTION@ $3.40 -> 4.1% Return
(45.6% Annualized*) if assigned
-- Rovi (Nasdaq: ROVI)
Last Price 29.18 - JUL 30.00 CALL OPTION@ $2.15 -> 11% Return
(41.8% Annualized*) if assigned
-- Merck (NYSE: MRK)
Last Price 37.78 - OCT 38.00 CALL OPTION@ $1.69 -> 5.3% Return
(10.3% Annualized*) if assigned
-- Abercrombie & Fitch (NYSE: ANF)
Last Price 47.16 - MAY 47.00 CALL OPTION@ $2.79 -> 5.9% Return
(65.6% Annualized*) if assigned
-- E*TRADE (Nasdaq: ETFC)
Last Price 10.06 - OCT 10.00 CALL OPTION@ $1.21 -> 13% Return
(25.4% Annualized*) if assigned
-- Allegheny Technologies (NYSE: ATI)
Last Price 39.98 - JUL 37.50 CALL OPTION@ $4.80 -> 6.6% Return
(25.1% Annualized*) if assigned
-- Crocs (Nasdaq: CROX)
Last Price 21.38 - MAY 21.00 CALL OPTION@ $1.55 -> 5.9% Return
(65.3% Annualized*) if assigned
*Annualized returns are shown for comparison purposes only
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NOTE: All stocks and options shown are examples only. These are not
recommendations to buy or sell any security.
NEWS LEADERS AND LAGGARDS-----------------------------------------
Stocks pointed higher this morning include Alpha Natural Resources
(ANR), First Solar (FSLR) and CF Industries (CF). Pointed lower
this morning are Mattel (MAT), Hasbro (HAS) and Genworth Financial
(GNW). Analyst upgrades this morning include Aastrom Biosciences
(ASTM), QR Energy (QRE) and BASF AG (BASFY). Downgrades this
morning include Infosys (INFY), Chesapeake Energy (CHK) and
Marathon Petroleum (MPC).
MARKET OVERVIEW---------------------------------------------------
Stocks in Asia ended lower today, with investor sentiment moving
inversely to rising Spanish bond yields. Airline issues were
notably weak, thanks to downbeat guidance from China Eastern and
China Southern. On the other hand, property stocks gained ground on
the mainland, bolstered by a Goldman Sachs upgrade of the sector.
Meanwhile, a monetary policy adjustment out of Beijing pushed the
yen higher, which kept Japanese exporters under pressure. By the
close, Japan's Nikkei fell 1.7%, South Korea's Kospi lost 0.8%,
Hong Kong's Hang Seng gave up 0.4%, and China's Shanghai Composite
dipped 0.09%. European equities are modestly higher at last look,
even as Spanish bond yields explore new peaks. Mining stocks have
lured a few buyers, after analysts at Citigroup and J.P. Morgan
both cited buying opportunities in the group. However, euro-zone
banks are struggling, as traders price in some uncertainty over a
potential round of downgrades from Moody's. At last check, London's
FTSE 100 has added 0.5%, the German DAX has tacked on 0.4%, and the
French CAC 40 is up 0.6%.
The U.S. dollar index is trading 0.2% higher this morning, with the
greenback last seen at $80.07. Crude oil is following in last
week's footsteps, with the front-month contract 0.3% lower at $103
per barrel. Meanwhile, gold futures are down 0.7% to trade at
$1,648.10 an ounce.
PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the Chicago Board Options Exchange (CBOE)
saw 1,111,331 call contracts traded on Friday, compared to 823,016
put contracts. The resultant single-session put/call ratio arrived
at 0.74, while the 21-day moving average was 0.63.
SUPPORT & RESISTANCE LEVELS --------------------------------------
The S&P Depository Receipts (SPY) show support in the neighborhood
of $135.75 with resistance near $138.90. The Nasdaq 100 (QQQ) has
shown support around $65.90 and resistance around $67.25.
TODAY'S ECONOMIC CALENDAR ----------------------------------------
8:30 a.m. Mar Retail Sales
8:30 a.m. Apr Empire Manufacturing
9:00 a.m. Feb Long-Term TIC Flows
10:00 a.m. Feb Business Inventories
10:00 a.m. Apr NAHB Housing Market Index
EARNINGS EXPECTED TODAY (w/current estimates) --------------------
SCHW 0.15
C 1.00
GCI 0.31
MTB 1.48
MAT 0.07
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