Posts Tagged ‘Sonic’

Sonic Corp. Calls Active As Shares Hit Highest Since ’07

Shares in Sonic Corp. jumped 12% to $23.51, the highest level since December of 2007, on Tuesday morning after the drive-in restaurants chain reported second-quarter earnings that topped the average of analyst estimates by one penny. Options volume on the stock is above average levels, with around 1,500 contracts in play thus far in the session versus average daily options volume on Sonic of around 620 contracts. Trading in Sonic calls is outpacing that in puts, with the call/put ratio hovering near 2.8 as of 11:20 a.m. ET.

Trades initiated in Sonic options on Monday prior to the company’s Q2 earnings release suggests some trader may be able to sink their teeth into overnight profits. The largest rise in open interest across currently available SONC options series was in the 17Apr’14 22.5 strike calls, with the level of open interest ticking up by 580 contracts overnight. A review of time and sales data indicates most of those calls were likely purchased on Monday for an average premium of $0.35 each. The sharp rally in the price of the underlying to fresh multi-year highs pushed premium on the 22.5 calls up to as high as $1.35 each during the first half of the session today. The last traded price on the contracts stands at $1.00 with the stock off session highs as of 11:30 a.m. ET.


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Buy Pick: SONC

Courtesy of David at The Oxen Group

Today’s Buy Pick: SONC

Sonic Chart,SONCTomorrow [now today], Sonic Corp. (SONC) looks to be a very bullish for tomorrow. In after hours, Sonic reported very positive earnings, beating expectations on revenue and EPS. The reason we like Sonic is because the company should be able to move up significantly. First, the market looks pretty positive for tomorrow. The Fed’s expected announcements should be extremely positive for the market as they should confirm rates and give bullish news on the economy.

Futures are already up strongly for the Dow and S&P as they expect good news from the Fed. Even if the Fed news is not extremely bullish, the market should move SONC up higher before the announcement, which should come sometime in the early afternoon. Sonic’s earnings beat EPS by 0.04, even though the company did see a dip in profits and sales. However, the company was highly criticized for their pricing in the last quarter and introduced a cheaper menu to draw in customers. Typically, when a company reports strong earnings, The Oxen Group does not like to recommend it because the stock will move down from a gap up. However, with Sonic, the stock has a low volume, which means that the stock should be flooded with more investors, making it easier for the rise.

Further, Sonic has strong technical indicators that should also help the stock move up. It is slightly oversold, undervalued, and towards its lower bollinger band – it has a lot to room move up. After the stock gaps up, and moves down, with a bullish market, Sonic earnings should continue to advance the stock.

Entry: Recommended entering 10-25 minutes
Exit: 2-4% increase
Resistance: Upper resistance 9.50

Table of David’s Results

Date   Stock Entry Exit


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Zero Hedge

China's Yuan Is Now Plunging Faster Than During 2015's Devaluation

Courtesy of ZeroHedge. View original post here.

Another China open, another lower renminbi fix, and another 2 handle plunge in offshore Yuan...

The People’s Bank of China set its daily reference rate for the yuan (dark red line in the chart above) weaker than the psychological level of 6.7 per dollar for the first time since August 2017, ...



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Phil's Favorites

Sacha Baron Cohen: is he wrong to make fools of the unwitting?

 

Sacha Baron Cohen: is he wrong to make fools of the unwitting?

Image courtesy of Channel 4

Courtesy of Ian Wilkie, University of Salford

“There is no such thing as bad publicity,” as the 19th-century showman and godfather of fake publicity P T Barnum may (or may not) have once said. But some high-ranking politicos caught up in Sacha Baron Cohen’s new television comedy venture, Who is America?, already appear to be regretting the publicity that their participation has generated.

The show repeats Baron Cohen’s now-familiar faux naïve presenter shti...



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Insider Scoop

10 Biggest Price Target Changes For Wednesday

Courtesy of Benzinga.

  • RBC Capital raised the price target on CF Industries Holdings, Inc. (NYSE: CF) from $38 to $42. CF Industries shares closed at $42.73 on Tuesday.
  • Wedbush raised Tractor Supply Company (NASDAQ: TSCO) price target from $65 to $77. Tractor Supply shares closed at $78.92 on Tuesday.
  • Wells Fargo lowered the price target for Visteon Corporation (NASDAQ: VC) from $146 to $137. Visteon shares closed at $131.71 on Tuesday.
  • Oppenheimer raised S...


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Chart School

S&P Firms Breakout As Tech Keep The Pressure On

Courtesy of Declan.

Given overnight news and Netflix disappointment I was surprised to see markets finish as strong as they did given comments on the economy by the Fed Chairman.

The S&P opened at support and 'engulfed' the prior day's trading; it's not a true bullish engulfing pattern as this is a reversal pattern and what we have is a breakout but it does contribute to a confirmation of the breakout.


The Dow Jones is inching towards channel resistance. In the context of other indices, it was a low key day...

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Digital Currencies

Bitcoin Explodes Through Key Technical Resistance, Hits 7-Week High

Courtesy of ZeroHedge. View original post here.

Bitcoin has suddenly exploded over 10% higher, smashing through its 50-day moving average, above $7000 for the first time since early June...

BTC is now testing up towards its 100DMA, ramping over $600 in 30 minutes...

And breaking its longer-term downtrend too...

The rest of the crypto space has gone along for the ride... ...



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Biotech

How summer and diet damage your DNA, and what you can do

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

How summer and diet damage your DNA, and what you can do

Bright sun and fatty foods are a bad recipe for your DNA. By Tish1/shutterstock.com

Courtesy of Adam Barsouk, University of Pittsburgh

Today, your body will accumulate quadrillions of new injuries in your DNA. The constant onslaught of many forms of damage, some of which permanently...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

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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