MorningUpdate - Options Trading Email

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New PriceWatch Alerts for CSCO, MOS, HES, CY, ADI

April 22 - 8:30 AM EST - Before the open... PriceWatch Alerts for 
CSCO, MOS, HES, CY, ADI, Market Overview, News Leaders and 
Laggards, and Today's Economic Calendar.
 
New PriceWatch Alerts for CSCO, MOS, HES, CY, ADI
 
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS-------------- 
-- Cisco Systems, Inc. (Nasdaq: CSCO) 
Last Price 24.89 - JUN 25.00 CALL OPTION@ $1.21 -> 5.6% Return 
(33.4% Annualized) assigned*
-- Mosaic Co. (NYSE: MOS)
Last Price 139.33 - MAY 140.00 CALL OPTION@ $9.00 -> 7.4% Return 
(104.2% Annualized) assigned*
-- Hess Corporation (NYSE: HES) 
Last Price 112.56 - MAY 110.00 CALL OPTION@ $7.50 -> 4.7% Return 
(66.0% Annualized) assigned*
-- Cypress Semiconductor Corporation (NYSE: CY)
Last Price 29.22 - JUN 29.00 CALL OPTION@ $2.20 -> 7.3% Return 
(43.8% Annualized) assigned*
-- Analog Devices Inc. (NYSE: ADI) 
Last Price 32.63 - SEP 30.00 CALL OPTION@ $4.10 -> 5.2% Return 
(12.4% Annualized) assigned*

*Annualized returns are shown for comparison purposes only
 
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NEWS LEADERS AND LAGGARDS-----------------------------------------
So far today, United Health Group, Lockheed Martin, and AT&T lead 
the list of companies with the most news stories while Sterling 
Bancshares, Inc. and Smith International, Inc. are showing a spike 
in news. Schlumberger Limited, Baker Hughes Inc., and EI DuPont 
have the highest srtIndex scores to top the list of companies with 
positive news while JetBlue Airways and UAL Corp. lead the list of 
companies with negative news reports. Dow Chemical Company has 
popped up with a high positive news sraIndex score.

MARKET OVERVIEW---------------------------------------------------
Overseas trading is a bit improved over yesterday at this time, as 
7 of the 12 foreign indices that we track are in positive 
territory.  The cumulative average return on the collective stands 
at a gain of 0.12%.  In Asian trading, stocks closed mostly lower 
in Japan following an insider-trading probe at Nomura Group.  As a 
result, the Nikkei logged its first loss in 5 sessions.  China's 
Shanghai bucked the trend, however, rebounding from a loss of 
nearly 3% on the day to close 1% higher.  The bounce was attributed 
to a plan unveiled by the Chinese government that is believed to be 
an attempt to shore up confidence following the Shanghais 50% 
plunge from its October highs.

Across the pond in Europe, stocks are trading mostly lower, with 
banks under pressure as the Royal Bank of Scotland said it would 
issue nearly $24 billion in new stock to repair its balance sheet.  
In other equity news, Infineon Technologies  (IFX) was up after 
announcing that it is moving towards a sale of Qimonda. The firm 
will take a $1.6 billion write-down related to the unit when it 
reports first-quarter results on Wednesday.  Finally, Havas rose 3% 
after the firm's first-quarter revenue climbed 2.5% to 345 million 
euros, and Norsk Hydro was up 2.2%, performing in line with other 
commodity-related equities.

Gold futures reversed course and finished with a slight gain 
yesterday. Early in the session, the contract rose to an intraday 
high of $931.40 an ounce. Gold then slid lower throughout the day 
before parlaying dollar weakness into a slight gain of $2.40 to 
close at $917.60 an ounce. The dollar dropped thanks to Bank of 
America's weak earnings report, which served as a reminder that the 
financial sector is still struggling.

Crude for June delivery added 47 cents to close at $116.63 
yesterday, due to some turmoil overseas.  According to the 
Associated Press, members of the Movement for the Emancipation of 
the Niger Delta (MEND) stated that its members blew up 2 more oil 
pipelines in southern Nigeria. MEND threatened more attacks as 
well, which helped bolster oil prices. Furthermore, Shell announced 
that it will cut oil production by 169,000 barrels per day in 
Nigeria thanks to the attacks. The final upside driver for oil was 
a weakening dollar.

PUT/CALL RATIO ---------------------------------------------------
Equity option activity on the CBOE saw 1,436,025 call contracts 
traded on Monday, compared to 858,187 put contracts.  The resultant 
single-session put/call ratio inched higher to 0.60, while the 21-
day moving average pulled back to 0.79.

TODAY'S ECONOMIC CALENDAR ----------------------------------------
The economic calendar is a bit light today, with only existing home 
sales data for March on the docket.  On Wednesday, the usual weekly 
report on U.S. petroleum supplies is due for release.  Thursday 
offers up the new home sales report for March and weekly jobless 
claims, and Friday rounds out the week with the revised University 
of Michigan consumer sentiment index for April.

10:00 a.m.     Mar      Existing Home Sales

EARNINGS EXPECTED TODAY (w/current estimates) --------------------
AAI  -0.31
AMP   0.99
AKS   0.82
T     0.74
AVY   0.81
BHI   1.20
BJS   0.55
CME   4.81
COH   0.45
DD    1.26
ECA   1.28
FITB  0.48
JEC   0.77
JBLU -0.07
KMB   1.07
LXK   0.90
LMT   1.63
MCD   0.70
MDP   0.98
MOLX  0.35
NSC   0.78
PCAR  0.77
PH    1.34
BTU   0.18
RHI   0.46
SHW   0.59
SII   0.87
SOV   0.21
STI   1.02
TLAB  0.04
TER   0.11
UAUA -3.41
UNH   0.79
VFC   1.29
VMW   0.22
WAT   0.64
WU    0.28
WYE   0.90
XL    2.24
YHOO  0.09
YUM   0.40