12:00pm (EST)
We have a lot to cover today as we get ready for a possible trend change in the market. We have been warning of a big move forthcoming and after a 10-week trading range, it appears the indexes are setting up nicely for some NEW option trades.
The Dow is currently down 121 points to 12,600 while the S&P 500 is lower by 12 points to 1,338. The Nasdaq is off 16 points to 2,874.
Apple (AAPL, $604.91, up $1.08), Buffalo Wild Wings (BWLD, $80.57, down, $0.12), iRobot (IRBT, $19.53, down $0.20), Netflix (NFLX, $81.84, up $1.90) and Panera Bread (PNRA, $140.85, down $1.88) will confess their quarterly results after the close today and Apple will move a lot of the indexes because it is a heavily weighted stock.
We would love to play the Apple WEEKLY options on a possible 10% move but the premiums are a little juicy for us and the risk/ reward isn’t as compelling as the NEW TRADES we have waiting for you.
Subscribers, check the Members Area for the updates and make sure you use limit orders to get the best fills.