Posts Tagged ‘SJM’

Smucker’s Calls In Focus As Shares Soar To Record High

 

Today’s tickers: SJM, LVS & KKD

SJM - J.M. Smucker Co. – Bullish bets initiated on branded food maker, J.M. Smucker Co., earlier this week are paying off for some strategists following the release of the company’s first-quarter earnings report ahead of the opening bell. Better-than-expected first-quarter earnings and revenue along with the firm’s full-year earnings guidance now at the top end of its previously forecasted range sent the price of the underlying stock soaring 6.5% to a new all-time high of $84.10 this morning. Traders positioning for a post-earnings report pop in the share price picked up around 250 of the Aug. $80 strike puts earlier this week for an average premium of $0.70 per contract. These calls, which are in their final day of trading before expiration, are now deep in-the-money, displaying a last-traded price of $3.70 as of 12:10 p.m. in New York. Traders who paid $0.70 apiece for the contracts have seen the value of the call options quadruple this week. Meanwhile, fresh bullish action in Smucker’s call options spread to the Sept. $85 strike where approximately 330 calls were purchased for an average premium of $0.65 apiece. The trader or traders purchasing the contracts profit if shares in SJM continue high to top a fresh record-high of $85.65 by September expiration.

LVS - Las Vegas Sands Corp. – Shares in the casino resort operator slumped to a 52-week low of $34.72 at the end of July on concerns over slowing growth in China and as gaming growth in Macao slipped to its lowest level in three years. But, the stock has managed to pare some of its losses during the first few weeks in August, rising 1.25% to $41.69 this morning, marking a 20% rebound in the price of the underlying off the July low. A debit call spread initiated in the weekly options expiring next Friday suggests one options player is positioned to benefit from further gains in the…
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J.M. Smucker Co. Calls In Demand Despite Earnings Jam

 

Today’s tickers: SJM, MS & NILE

SJM - J.M. Smucker Co. – Shares in the maker of branded food products fell as much as 9.8% to $70.50 today after third-quarter earnings missed expectations and the Company cut its full-year earnings estimate. The sharp correction in the shares may be temporary, by the looks of trades placed in J.M. Smucker Co. options straight out of the gate this morning. Investors snapped up calls across several expiries, perhaps taking advantage of deeply discounted premiums on the contracts in the view that shares may rebound. March expiry call buyers targeted the $75 strike, buying around 280 lots for an average premium of $0.60 each. Traders long the calls may profit at expiration next month if shares in the peanut butter producer rally 6.5% over the current traded price of $71.00 to exceed the effective breakeven point at $75.60. Same-strike price calls in the April contract were purchased 200 times at an average premium of $1.10 apiece, positioning buyers to profit above a breakeven share price of $76.10. Meanwhile, third-quarter results and the revision to full-year guidance seem to have sparked concern in other strategists buying SJM puts. Traders positioning for shares to extend losses purchased around 150 of the Mar. $65 strike puts at a premium of $0.41 each, and picked up around 220 July $70 strike put options at an average premium of $3.50 per contract.

MS - Morgan Stanley – It looks like some Morgan Stanley options players paid heftier premiums than necessary for downside puts this morning. Reports that Moody’s may cut its rating on MS by up to three notches sent shares in the financial services firm down as much as 4.0% to $18.20, sparking demand for downside protection. The shaky start to the trading day was…
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Zero Hedge

Supreme Court Saves Obamacare Again After GOP Challenge Rejected

Courtesy of ZeroHedge View original post here.

The Supreme Court on Thursday rejected a GOP challenge to Obamacare, upholding the Affordable Care Act for the third time.

In a 7-2 decision, the Court found that Texas and 17 other states lack legal standing to sue, as they had not suffered a direct injury, according to the New York Times.

The Justices did not touch on the larger issues in the case, however, namely whether the majority of Obama'...



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Phil's Favorites

Justice Department's Investigation of Dodgy Archegos-Style Accounts at the Wall Street Mega Banks Is Likely the Cause of Plunge in Trading Revenues

Courtesy of Pam Martens

By Pam Martens and Russ Martens: June 17, 2021 ~

On May 26 Bloomberg News reported that the U.S. Department of Justice had opened an investigation into Archegos Capital Management and its bank lenders. Archegos is the family office hedge fund that had blown up in late March, causing a total of more than $10 billion in losses to mega banks including Credit Suisse, UBS, Morgan Stanley and others.

Archegos had obtained leverag...



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Chart School

Australia to enter a very sad period - Update

Courtesy of Read the Ticker

Lets add some dates to the bearish forecast of the ASX200.

Previous post on the subject and a more detailed Ewave construction can be found here.

SHORT ANSWER

The vertical light red shaded area (chart 1) is the T Theory forecast for the final price top (end of B wave). This period is some where between Nov 2021 and July 2022. This zone is the confluence of equal time cycles as presented on the chart. Notice how this note refers to a extreme price top and not a crash or bear market starting date. Price can consolidate for some time after a extreme high is posted. 


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Politics

The Ukraine Fallacies (with Victor Rud)

 

The Ukraine Fallacies (with Victor Rud)

Americans are confused about the history of Ukraine. That's just how Russia wants it.

Courtesy of Greg Olear, at PREVAIL

Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

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Biotech/COVID-19

The FDA's big gamble on the new Alzheimer's drug

 

The FDA's big gamble on the new Alzheimer's drug

Do the benefits of approving a drug before confirming it works outweigh the potential costs? monkeybusinessimages/iStock via Getty Images Plus

Courtesy of C. Michael White, University of Connecticut

The Food and Drug Administration set off a firestorm of debate when it approved a new drug, aducanumab, for Alzheimer’s disease v...



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Promotions

Live Webinar with Phil on Option Strategies

 

June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

Click here to register for TD's live webinar with Phil.

 

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Digital Currencies

Crypto: Congress Dawdles as $1.7 Trillion Con-Game Goes Unregulated, Threatening Reputation of U.S. Markets

Courtesy of Pam Martens

If you want to get your hair cut outside of your home in the United States, the job has to be done by a licensed worker at a regulated business. The same thing applies to plumbers, electricians, home inspectors, real estate and insurance agents. They all require a license and are subject to regulatory scrutiny.

Likewise, commodities like corn, sugar, wheat, lumber and oil are all traded on regulated exchanges which are overseen by a federal regulator.

But, for reasons that have yet to be explained to the American people, when it comes to the $1.7 trillion cryptocurrency market – which is effectively a con-g...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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