2:00pm (EST)
The Dow is struggling after starting off the morning in the green. Intel (INTC, $20.25, up $0.78) got the ball rolling after the company raised its sales forecast for the current quarter from $8.9 billion to $9.2 billion and Dell (DELL, $16.08, up $0.43) came in with better-than-expected earnings. However, all the major indexes are now lower as the Dow has fallen 65 points and is currently trading at 9,515. The Nasdaq has slipped 6 points to 2,021 while the S&P 500 is down 5 to 1,025.
We added the Citigroup (C, $5.20, up $0.15) call options this morning and there are a few other names I like and don’t like.
As far as specific stocks, make sure you close the AIG (AIG, $49.81, up $1.97) call options today. The stock hit a high of $55.90 this morning which represented the perfect opportunity to sell the September 35 calls (IKGII, $15.80, up $1.70) which printed $21.00 today. Incredible. I’ve got another strangle option trade in the works for Sunday night and AIG has proven the kind returns that can made with strangles
DryShips (DRYS, $6.05, down $0.19) couldn’t carry the momentum from yesterday so there was no day trade.
I’ll be back Sunday night with the updates.
Rick@MomentumOptionsTrading.com
Tags: AIG, c, Citigroup, Dell, drys, IKG, INTC, Intel, options trading strategies
This entry was posted
on Friday, August 28th, 2009 at 2:08 PM and is filed under Company Commentary, Financial Stocks, Market Analysis, Option Trades.
You can follow any responses to this entry through the RSS 2.0 feed.
You can skip to the end and leave a response. Pinging is currently not allowed.
Checking In
2:00pm (EST)
The Dow is struggling after starting off the morning in the green. Intel (INTC, $20.25, up $0.78) got the ball rolling after the company raised its sales forecast for the current quarter from $8.9 billion to $9.2 billion and Dell (DELL, $16.08, up $0.43) came in with better-than-expected earnings. However, all the major indexes are now lower as the Dow has fallen 65 points and is currently trading at 9,515. The Nasdaq has slipped 6 points to 2,021 while the S&P 500 is down 5 to 1,025.
We added the Citigroup (C, $5.20, up $0.15) call options this morning and there are a few other names I like and don’t like.
As far as specific stocks, make sure you close the AIG (AIG, $49.81, up $1.97) call options today. The stock hit a high of $55.90 this morning which represented the perfect opportunity to sell the September 35 calls (IKGII, $15.80, up $1.70) which printed $21.00 today. Incredible. I’ve got another strangle option trade in the works for Sunday night and AIG has proven the kind returns that can made with strangles
DryShips (DRYS, $6.05, down $0.19) couldn’t carry the momentum from yesterday so there was no day trade.
I’ll be back Sunday night with the updates.
Rick@MomentumOptionsTrading.com
Tags: AIG, c, Citigroup, Dell, drys, IKG, INTC, Intel, options trading strategies
This entry was posted on Friday, August 28th, 2009 at 2:08 PM and is filed under Company Commentary, Financial Stocks, Market Analysis, Option Trades. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.