9:15am (EST) The futures had been up this morning but have lost steam after a worse-than-expected weekly jobs report. The number of US workers filing new claims for jobless benefits rose 15,000 last week to 576,000. Wall Street had forecast new claims of 550,000 from the previously reported 558,000. AsRead more
9:15am (EST) European markets are bleeding red and the big talk is China’s Shanghai stock market which has fallen 5% on concerns about the Chinese economy. The Dow Jones futures are off by 89, to 9,118. The S&P 500 futures are down 10, to 979, while the Nasdaq futures are lower by 18, toRead more
11:00pm (EST) Abercrombie & Fitch (ANF, $31.47, down $0.07) September 32 puts (ANFUJ, $2.20, flat) Entry Price: $1.25 (8/14/09) Exit Target: $2.50 Return: 76% Stop: $1.75, raise to $1.85 Action: Abercrombie was weak in a strong market today which was a good sign. The stock traded to a lowRead more
9:10am (EST) Home Depot (HD, $26.11) beat Wall Street’s expectations this morning although revenue dropped 7%. The stock is up $1, or 4%, to $27 in premarket trading. The company earned $1.12 billion, or $0.66 a share versus $1.2 billion, or $0.71 a share, a year earlier. The Street had been looking for aRead more
11:00pm (EST) Abercrombie & Fitch (ANF, $31.54, down $2.71) September 32 puts (ANFUJ, $2.20, up $1.00) Entry Price: $1.25 (8/14/09) Exit Target: $2.50 Return: 76% Stop: 60 cents, raise to $1.75 Action: Abercrombie was a train wreck all day and we did well by buying the puts during Friday’s run-upRead more
1:00pm (EST) Abercrombie & Fitch (ANF, $31.96, down $2.29) is down 7% today and the September 32 puts (ANFUJ, $2.00, up $0.80) are up 67%. We went with the puts options at the open on Friday for $1.25 and I had accidentally listed the August 32.50 puts (ANFTZ, $1.05, up $0.70) at 40 centsRead more
1. Commentary 2. Allocating Option Trades 3. Putting a Collar Option on Your Investments 4. Earnings 5. Current Trades 6. Closing Thoughts ************************************************** 1. Commentary The bulls had their four-week winning streak snapped as the bears took last week’s battle. Much of the beginning of the week wasRead more
11:20am (EST) Folks, I screwed up. This morning I listed the WRONG put options on Abercrombie & Fitch (ANF, $34.30, up $1.34). I gave the wrong symbol for the September 32.50 puts. In fact, there aren’t any September 32.50 puts. The August 32.50 puts (ANFTZ, $0.45, down $0.70) wasn’t the trade…I thought IRead more
