MORNING UPDATE: PriceWatch Alerts for BAC and More... for 2009-06-30 |
| ------------------------------------------------------------------ New PriceWatch Alerts for BAC, WFC, HPQ, MFE, and More... June 30, 8:30 AM EST - Before the open... PriceWatch Alerts for BAC, WFC, HPQ, MFE, CMI, WHR, LTD, SNDA, LRCX, and QLGC, Market Overview, News Leaders and Laggards, Today's Economic Calendar, and Index Support & Resistance Levels. New PriceWatch Alerts for BAC, WFC, HPQ, MFE, CMI, WHR, LTD, SNDA, LRCX, and QLGC PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS-------------- -- Bank of America Corporation (NYSE: BAC) Last Price 13.19 - AUG 13.00 CALL OPTION@ $1.26 -> 9.0% Return (63.0% Annualized) assigned* -- McAfee, Inc. (NYSE: MFE) Last Price 42.05 - SEP 40.00 CALL OPTION@ $3.90 -> 4.8% Return (21.9% Annualized) assigned* -- Shanda Interactive Entertainment Ltd. (Nasdaq: SNDA) Last Price 55.70 - JUL 55.00 CALL OPTION@ $3.40 -> 5.2% Return (104.7% Annualized) assigned* -- Lam Research Corporation (Nasdaq: LRCX) Last Price 25.44 - AUG 25.00 CALL OPTION@ $2.05 -> 6.9% Return (48.3% Annualized) assigned* -- QLogic Corp. (Nasdaq: QLGC) Last Price 12.82 - JAN 12.50 CALL OPTION@ $1.65 -> 11.9% Return (21.7% Annualized) assigned* -- Wells Fargo & Company (NYSE: WFC) Last Price 24.53 - AUG 25.00 CALL OPTION@ $2.15 -> 11.7% Return (82.2% Annualized) assigned* -- Hewlett-Packard Company (NYSE: HPQ) Last Price 38.98 - NOV 37.50 CALL OPTION@ $3.70 -> 6.3% Return (16.2% Annualized) assigned* -- Cummins Inc. (NYSE: CMI) Last Price 36.09 - AUG 36.00 CALL OPTION@ $3.00 -> 8.8% Return (61.7% Annualized) assigned* -- Whirlpool Corp. (NYSE: WHR) Last Price 43.72 - AUG 43.00 CALL OPTION@ $3.70 -> 7.4% Return (52.3% Annualized) assigned* -- Limited Brands Inc. (NYSE: LTD) Last Price 12.07 - NOV 12.50 CALL OPTION@ $1.30 -> 16.1% Return (41.3% Annualized) assigned* *Annualized returns are shown for comparison purposes only What exactly is a Covered Call? What are the risks, benefits, and requirements? If you are asking yourself these questions, the answers you seek lie in :Covered Calls: Aggressive Strategy for the Conservative Investor: (http://www.poweropt.com/107/). This educational kit, written by the founders of PowerOptions, will teach you the ins and outs of the Covered Call Strategy. PLUS, it comes with two free months of PowerOptions AND a 30 day risk free guarantee! Can you back test these strategies? Yes, you can! PowerOptions offers a full back testing screener, SmartHistoryXL, to its subscribers. Back test over 20 different options strategies using your personal search criteria. Check out PowerOptions SmartHistoryXL (http://www.poweropt.com/optionsbacktesting- instructions.asp) and start back testing today! NEWS LEADERS AND LAGGARDS----------------------------------------- So far this morning, H&R Block, Inc., Apollo Group, Inc., and Johnson & Johnson lead the list of companies with positive news, while Exxon Mobil, Abbott Laboratories, and Schnitzer Steel lead the list of companies with negative news. FedEx, Choice Hotels, and Nordstrom were upgraded this morning, while AMR Corp., Southern Co., and Starwood Hotels were downgraded. MARKET OVERVIEW--------------------------------------------------- Overseas trading is weak this morning, as only two of the 10 foreign indices that we track are in positive territory. The cumulative average return on the collective stands at a loss of 0.25%. Trading in Asia closed mixed, with overnight gains on Wall Street and higher oil prices setting the stage for an advance in Japan and AustraliaAcross the pond in Europe, stocks are flat on the last day of a strong second quarter, with gains for banks and healthcare stocks offsetting losses for food producers. Banks were the best performers in the quarter, gaining more than 45%, as optimism about the economy returned. Crude futures raced higher on Monday, with militant rebels in Nigeria doing their part to inflate the price of black gold. The Movement for the Emancipation of the Niger Delta (MEND) took responsibility for an attack on an off-shore platform owned by Royal Dutch Shell, effectively brushing off an amnesty offer from President Umaru Yar'Adua. As a result, traders paid little heed to a downwardly revised demand outlook from the International Energy Association -- the agency slashed its medium-term forecast for world oil demand by 3.7%, though it admitted to "widespread uncertainty" regarding the shape of the economic recovery to come. PUT/CALL RATIO --------------------------------------------------- Equity option activity on the Chicago Board Options Exchange (CBOE) saw 875,729 call contracts traded on Monday, compared to 631,498 put contracts. The resultant single-session put/call ratio arrived at 0.72, while the 21-day moving average rose to 0.69. SUPPORT & RESISTANCE LEVELS -------------------------------------- The S&P Depository Receipts (SPY) show support in the neighborhood of $89.25 and resistance around $96.10. For the Nasdaq 100 (QQQQ), support is near $35.00 and resistance is around $37.20. TODAY'S ECONOMIC CALENDAR ---------------------------------------- 9:00 a.m. Apr S&P/Case-Shiller Home Price Index 9:00 a.m. Jun Chicago PMI 10:00 a.m. Jun Consumer Confidence EARNINGS EXPECTED TODAY (w/current estimates) -------------------- SCHN 0.16 ZZ 0.05 This Morning Update was prepared with data and information provided by: PowerOptionsPlus.com - The Best Way To Find, Compare, Analyze, and Make Money On Option Investments - Forbes Best of the Web Winner. InvestorsObserver.com -- Better Strategies for Making Money -> For Investors With a Sense of Humor. Only $1 for your first month plus seven free bonuses worth over $800, see: http://www.poweropt.com/io Seven Summits Investment Research is an independent investment research group focusing on the U.S. equities and options markets. Our unique set of analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best investment decisions possible. For more information go to www.SevenSummitsInvestmentResearch.com . CRD# 137114 Schaeffer's Investment Research - Market information that combines unique data with insightful commentary, enabling you to navigate in any market conditions and invest wisely http://www.poweropt.com/sirmmo All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling |
