Posts Tagged ‘TOT’

Boeing Bears Bulk Up On Put Options Ahead Of Earnings

Today’s tickers: BA, AEO, BP & TOT

BA - The Boeing Co. – Weekly put options covering the commercial airline manufacturer are active ahead of Boeing’s third-quarter earnings report ahead of the opening bell on Wednesday. Shares in Boeing rallied earlier this morning, but have since turned negative to stand 0.20% lower on the session at $64.46 as of 11:25 am EDT. Put players may be picking up downside protection ahead of the earnings release should the report fail disappoint at mid-week. Traders purchased nearly 500 in-the-money puts at the Oct.’28 $65 strike for an average premium of $1.63 each, and picked up some 2,000 puts at the Oct.’28 $62.5 strike at an average premium of $0.78 apiece. Put volume at each strike is far exceeds open interest levels. Investors long the contracts may profit at expiration day if BA’s shares trade below the average breakeven prices of $63.37 and $61.72, respectively. Meanwhile, traders doubting the stock will tank on the earnings report, sold 2,196 puts at the Oct.’28 $57.5 strike to pocket premium of $0.11 per contract. Put sellers keep the premium received on the transaction as long as shares in The Boeing Company top $57.50 at expiration day this week. Traders short the puts could wind up having shares of the underlying put to them at expiration should the stock drop 10.8% from the current price of $64.46 to trade below the $57.50 strike price.

AEO - American Eagle Outfitters, Inc. – Call options on American Eagle Outfitters are on-trend with investors positioning for shares in the teen retailer to rally during the next four weeks to November expiration. American Eagle is scheduled to report third-quarter earnings ahead of the open on November 17. Shares in AEO are currently up 3.1% at $13.40 as of 11:10 am in New York. Call buying and put selling in the front month ensued within minutes of the morning bell. Investors expecting shares in the apparel and accessories retailer to increase snapped up roughly 1,800 calls at the Nov. $14 strike for an average premium of $0.46 each. Trading traffic in near-term calls was heaviest at the Nov. $15 strike, where more than 8,900 contracts changed hands against open interest of 4,829 positions. It looks like most of the Nov. $15 strike calls were purchased for an average premium of $0.22 apiece. Call buyers profit at expiration in the event that AEO’s shares surge 13.6% to…
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BP, Total Call Options In Play For A Second Day

Today’s tickers: BP, TOT, CHS, CJES & ANF

BP & TOT - BP PLC & Total SA – Intriguing activity in call options covering Europe’s second- and third-largest oil companies, BP and Total, carried over from Thursday’s trading day to the final session of the week. Shares in both companies are up on the day, with BP gaining 1.8% to $42.07, and Total rising 1.1% to $52.36, by 12:35 pm EDT. Yesterday we noted one strategist’s dispersion trade; selling calls on Total and buying calls on BP, in a position that seemed to suggest fruitful months ahead for BP and less-stellar share price performance at Total.

News out on BP today may support such bullish sentiment. The company was reportedly granted approval by U.S. regulators to once again engage in oil exploration in the Gulf of Mexico, its first such approval since the company’s disastrous offshore spill in 2010. BP is slated to report its performance for the third quarter ahead of the opening bell on October 25, while Total reveals its numbers pre-market on October 28.

The call activity in both names this morning is almost identical to that observed on Thursday. It looks like the investor sold some 7,600 Total calls at the May 2012 $55 strike for a premium of $3.30 each, and purchased around 8,400 calls on BP at the April $44 strike for a premium of $2.89 apiece. The strategist walks away with the full amount of premium received for writing the TOT call options as long as shares in the French oil company fail to exceed $55.00 at expiration in May. Meanwhile, profits may be available on the long BP call options should shares in the name rally another 11.5% to surpass the effective breakeven price of $46.89 by expiration in April 2012. Options implied volatility readings on both stocks are down roughly 6.0% as of 12:50 pm in New York.

CHS - Chico’s FAS, Inc. – Bullish options players have taken a shine to the retailer of private-branded apparel and accessories today, with shares in the Fort Myers, Florida-based company rallying 2.25% to $12.35 on a risk-on day for U.S. equities. Investors positioning for Chico’s shares to extend gains snapped up call options in the November contract. The most heavily populated option is the Nov. $14 strike call, which changed hands upward of 4,700 times in the first half of the session against open interest of 653 contracts. Options…
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Green Mountain Jitters Continue To Drive Heavy Trading In Options-Land

Today’s tickers: GMCR, TOT, BP, MSFT & OSK

GMCR - Green Mountain Coffee Roasters, Inc. – Shares in Green Mountain Coffee Roasters turned positive earlier in the session, but are now continuing to unravel on the heels of a roughly 25.0% decline in price since hedge fund manager David Einhorn of Greenlight Capital presented analysis of the coffee company at an investor conference on Monday. Over the past month, the stock has fallen as much as 45.0% to touch today’s intraday low of $63.26 since reaching the September 20, 52-week high of $115.98. Frenzied trading in GMCR options continues today, following similarly active sessions earlier in the week. Investors are exchanging calls and puts in relatively equal numbers, with puts outpacing calls slightly in early-afternoon trade.

The front month garnered the most attention from options players placing short-term bets on the stock ahead of expiration at the end of the week. Investors hoping the stock has reached a bottom appear to have purchased in- and out-of-the-money calls, and sold puts. Meanwhile, concerned parties wary the stock could extend losses snapped up puts. The bears bought around 1,100 puts at the Oct. $55 strike for an average premium of $1.09 each. These deep out-of-the-money put options may expire worthless at expiration if shares in GMCR fail to drop sharply by the end of the trading week. But, the puts could provide quick profits for some traders if premium on the contracts rises with either volatility or further declines in the price of the underlying. The most active put on Green Mountain is the Oct. $65 strike, where nearly 6,000 puts changed hands against open interest of 1,539 positions. Trading patterns in the puts reveal mixed opinion.

Investors itching for a quick rebound in GMCR purchased October contract calls. More than 7,000 calls have traded at each of the Oct. $70 and $75 strikes. While both buyers and sellers drove volume in the contracts, there does appear to be somewhat of a bullish bias thus far today. Traders long the calls may profit at expiration should the week wrap up with shares in Green Mountain back on track. Overall volume in GMCR options is just under 100,000 contracts as of 2:10 pm on the East Coast.

BP & TOT - BP PLC & Total SA – Big prints in call options on European oil behemoths, BP and Total, shed some light on one strategist’s view of which company’s…
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Testy Tuesday – Topping or Popping?

 Looks like we picked the wrong week to short FCX! 

Copper hit a new all-time high in Shanghai this morning (as the guy who owns 90% of London's closed for the holiday exchange supplies sold it to himself for more money than he did yesterday) and gold is back at $1,400 in the futures and that should give us a better entry on FCX puts than we expected for round 2 but Paul Krugman has me worried now that maybe commodity prices are just high because the World hasn't got enough of them to go around.  Usually Paul and I agree but i think he may be discounting the effect of a 10% decline in the dollar a little too much – which is understandable as he is still arguing for more stimulus while I'm arguing that the way they are stimulating now is causing this problem and can not and should not be sustained.  

Still, we have to be pragmatic.  That's why, this weekend, I posted our "Secret Santa Inflation Hedges for 2011" as a follow-on to the "Breakout Defense – 5,000% in 5 Trades or Less" ideas of the 11th and, in the week between the two, we had bullish bets on  HMY, XLF, CAKE, TNA, IWM, CCJ, CHK, EXC, TNA, XLF, UNG, GLD, AAPL, GLW, TOT and AXP – which I had mentioned on the 19th in the weekend post "It's Never too Early to Predict the Future."  Just because I think there's going to be a disaster doesn't mean we can't go with the flow while we wait, right?  

We don't have to like the market to buy it above our breakout lines but we do need to keep in mind that this is a very thin rally that is very likely nothing but window dressing aimed at dragging money off the sidelines so the IBanks who have been propping up the markets can, once again, stick the retail shareholders with the bag as they load up on puts (watch the VIX to confirm) and crash the markets once again.  I've seen it happen in 1999, I saw it happen in 2008 and, both times, the rally lasted longer than seemed logical but the smart play was to hit and run – not to leave your money on the table but
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Weekend Reading – It’s Never Too Early to Predict the Future!

 Barron’s already has the 2011 Outlook on the Cover.  

outlook timelin

We were discussing the generally bullish in Member Chat and Barfinger said "So, Phil, what is your response to the bullish preview?"   That was a great question because it made me think.  Does he expect a "rebuttal"?  I can understand that as I’ve been fairly bearish but let’s not confuse caution (I called for a cash out when the Dow hit 11,200 in early November, it peaked at 11,444 on the 5th and closed Friday at 11,491) with bearishness – it’s just that my now 45 days of running around saying "the sky is falling" while it stays in place does make me seem like a perma-bear.  

The "October Overbought Eight" was my first bearish virtual portfolio since April 28th’s "Hedging for Disaster – 5 Plays that Make 500% if the Market Falls" (and it did, and they did).  THAT was a bearish outlook!  We are not that bearish here, otherwise it would have been the easiest thing in the World to re-up those plays for the new year.  We expect a correction, but hopefully not the kind we had between May 4th and July 2nd, where the Dow dropped 1,600 points in just over 2 months.  We are HOPING for a nice 20% pullback off the 15% gain from 9,800 to 11,270 back to the 11,000 line and holding that would make us very bullish going into next year.  

That would be 1,180 on the S&P (the declining 200 dma) and just 5% down from Friday’s close – THAT’s how bearish I am!  Where we are now is simply where the 5% Rule told us we’d be back on May 5th, where the chart pointed out that 1,240 is 20% off the upper, non-spike consolidation at 1,550 that marked the high for the S&P.  20% is the most powerful level in the 5% Rule and that’s why it’s been safer to wait and see how this line resolves than place long-term bets in either direction into the slow and volatile holidays.

Obviously, I am fairly convinced that Global "leaders" are making all sorts of policy mistakes handling the economy and I do believe it will all end in disaster but that does NOT mean I am market bearish.  

Think if it this way:  If you come across a
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Goldman’s Global Oil Scam Passes the 50 Madoff Mark!

$2.5 Trillion – That's the size of of the global oil scam.

It's a number so large that, to put it in perspective, we will now begin measuring the damage done to the global economy in "Madoff Units" ($50Bn rip-offs).  That's right – $2.5Tn is 50 TIMES the amount of money that Bernie Madoff scammed from investors in his lifetime, yet it is also LESS than the MONTHLY EXCESS price the global population is being manipulated into paying for a barrel of oil. 

Where is the outrage?  Where are the investigations? 

Goldman Sachs, Morgan Stanley, BP, TOT, Shell, DB and Societe General founded the Intercontinental Exchange in 2000.  ICE is an online commodities and futures marketplace. It is outside the US and operates free from the constraints of US laws.  The exchange was set up to facilitate "dark pool" trading in the commodities markets.  Billions of dollars are being placed on oil futures contracts at the ICE and the beauty of this scam is that they NEVER take delivery, per se.  They just ratchet up the price with leveraged speculation using your TARP money. This year alone they ratcheted up the global cost of oil from $40 to $80 per barrel.

A Congressional investigation into energy trading in 2003 discovered that ICE was being used to facilitate "round-trip" trades.  Round-trip'' trades occur when one firm sells energy to another and then the second firm simultaneously sells the same amount of energy back to the first company at exactly the same price. No commodity ever changes hands. But when done on an exchange, these transactions send a price signal to the market and they artificially boost revenue for the company.  This is nothing more than a massive fraud, pure and simple.

"Traders of the the ICE core membership (GS, MS, BP, DB, RDS.A, GLE & TOT) wouldn't really have to put much money at risk by their standards in order to move or support the global market price via the BFOE market. Indeed the evolution of the Brent market has been a response to declining production and the fact that traders could not resist manipulating the market by buying up contracts and “squeezing” those who had sold oil they did not have. The fewer cargoes produced, the easier the underlying market is to manipulate." – Chris Cook,


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Friday Market Follies – Up, Up and Away?

And away we go!

We have finally broken through all of our breakout levels and no one is more surprised than I am to see this coming without a pullback (perhaps David Fry – see chart on right).  We will, of course, remain cautious through the weekend but we're already preparing to throw caution to the wind (sort of) as I've posted a primer for our Buy/Write Strategy, so we can start picking up the stocks we want at roughly 15-20% discounts.  This is why we can afford to be patient as we wait for our breakout levels – WE DON'T MISS ANYTHING!  At PSW, we can STILL buy BAC for $14.41 (16% off) and C for $3.43 (27% off) and PARD for $3.79 (51% off) and now that we have made our tops, we feel a lot more comfortable working in at those prices than we would have when the market was 20% lower in early July.

Hopefully that floor holds (Dow 8,000).  We're looking good so far as our breakout levels have been Dow 9,600, S&P 1,030, Nasdaq 2,038, NYSE 6,700 and Russell 577 and now they form a floor we will be able to watch so we’ll know when to be worried that the rally is running out of steam. 

We are also well-protected with our disaster hedges from the Aug 24th post and, if you don't have any – it's still a good idea to get some (and cheaper now too!).  Only 2 33% (off the top) levels remain and that’s 1,056 on the S&P and 6,959 on the NYSE and we will be officially raising our mid-point from Dow 8,650 to 9,500 if we can take those out and hold them for a day or two, which will make 9,000 our new expected floor on the Dow and that means we should be buying here!  There’s no point in having watch levels if we don’t act on them.  

The dollar continues to fall and that's supporting oil and gold but not the Nikkei, who fell 100 points off their open and finished down .666% for the day as the dollar failed to hold 91 Yen against the world's mightiest currency.  Even a 50-point "stick save" into the Nikkei close couldn't paint a positive close for the day.  A 100-point boost into the close was enough to give the Hang Seng a 91 point gain on the day,
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Short Weekly Wrap-Up

Wheee, what a great way to end the week!

As I mentioned in yesterday's post, we had gone into the day flipping our short firepower to BG $60 puts at $1.30 and TOT $55 puts at $1.20 as well as our remaining DIA $84 puts at .84.  We went back to cash for the weekend but consider that the DIA $84 puts finished at $2.04 (up 142%), BG $60 puts finished at $2.10 (up 61%) and TOT $55 puts finished at $2.83 (135%) and you can see how even small allocations out of cash yield very nice one-day returns on put options.  You do not have to take big risks to make big rewards, playing put options allows us to stay flexible and mainly in cash without "missing" too many market market moves.

We blew right through the upper targets I set in the morning and the Dow flew right down near enough our 8,250 (June lows) target that it looked bounceable, as the other indexes were holding up better than the Dow we felt we could play it for a small recovery over the weekend.  We picked up some DIA $85 calls for .76 but elected not to DD at our scale-in target of .64 into the close as we already had bullish plays on ZION as well as Dow components AA, BA, GE and PFE, all longer-term plays that we are looking forward to adding to cheaper if they keep heading down.  VLO and SNY were added in the afternoon as well as a UNG spread since they decided to just give it away at $13 again. 

While we are just dipping our toes into some long posItions, it is the first time in a month we've been happy enough with the pricing to even take a chance.  Of course we maintain our long put covers (just in case) but what's the point of having protection if you have nothing to protect?  On the whole, the volume simply wasn't that impressive and we attribute much of this drop to people who were "shocked" that the economy isn't as good as they thought it was (cough, Cramer fans, cough, cough) but it's EXACTLY as weak as we thought it was and that means there are certain price points we are willing to hit long-term.  Kudos to all who patiently waited with us for…
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Thrilling Thursday Morning – Jobless Recovery Edition

As I mentioned yesterday, the ADP numbers were not good.

Now it’s one thing to see something happen and quite another to do something about it.  One of the reasons we like to be in cash is we get to wait for the market to do something silly so we can bet against it.  Yesterday was a gift as the Dow climbed all the way to 8,577 at 10:30 and we gave it a few minutes for the Crude Inventories, which were a disappointment for the oil bulls and our first Trade Alert of the day went out to Members at 10:35 saying: "OIH $95 puts are a good deal at $1.58."  These trades don’t happen in a vacuum – we had been watching OIH all week and decided it was a safer short than USO, which also sold off nicely but the OIH was no slouch with the $95 puts finishing the day at $2.30 (up 45%).

Just a few minutes later, at 10:43, we were able to take advantage of the DIA $84 puts at .84, which finished the day at $1.08 (up 28%) and we were able to get back to cash while speculating on TOT $55 puts at $1.20 and BG $60 puts for $1.30 into today as we expected some downside follow-through to grip Europe, who were overly complacent yesterday.  I wanted to mention this as I hear from many traders who are getting hit hard because they feel the need to stay "invested" for fear of missing something and the only thing you are missing in this market by not having a cash position is a good night’s sleep.  Having cash allows us to pick our spots, make money and get back out to cash.  We’re not day-traders but we sure as hell take our profits if we hit our goals in a day! 

We’re still waiting for the market to pick a real direction but there are some things we do know and one of them is that oil is massively over-priced.  AAA just released a report stating that the peak for gasoline prices has already passed and estimates that auto trips will be down 2.6% this summer.  As I keep saying, people simply CAN’T afford to pay these pumped-up prices, no matter how much speculators wish it to be otherwise.  Clearly the dumb money is following Goldman et al into…
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China Pays Too Much for Oil in Iraq – $16 A Barrel!

China wisdomHow much smarter is China than the US?

Well let’s see – The US has spent $1,000,000,000,000 fighting in Iraq and thousands of our soldiers have died and we have secured ZERO barrels of oil for ourselves.  China was not part of the coalition of the willing but, for just $8.8Bn, they are getting 550 Million barrels of oil, almost the size of the US’s entire strategic petroleum reserve, through the purchase of Addax Petroleum, and 20% of those reserves are in Iraq .  While Bush filled our reserve up "at any price" and became the single largest buyer of crude in the world, filling our SPR at a rate of 2-3Mb a week at times, China simply waited patiently on the sidelines and is now coming in and buying wholesale.  That’s pretty smart!

Iraq oilOf course patience is a renowned virtue of the Chinese and just one year after the US was paying over $100 a barrel to fill our own reserves, China’s Sinopec is doubling the country’s oil reserves with a single purchase at 1/6th the price.  Sure they have to pump it ($4 per barrel) and ship it ($3 per barrel) as it’s not local but sometimes you have to travel a little to find bargains. 

Earlier this year, Iraqi Oil Minister Hussain al-Shahristani gave approval for foreign companies developing oil fields in the Kurdish region to export their crude directly to international markets. Addax was a beneficiary of the change and has been shipping oil since the start of this month.  Addax is one of the largest independent oil producers in West Africa and the Middle East by volume. Aside from Kurdistan, it operates off Nigeria, an area that has seen huge exploration success in recent years.  The company produced 136,500 barrels a day on average last year, or about 1.7% of China’s daily consumption.

china oilSo why is China still paying too much for oil?  Sinopec is paying about $16 a barrel of proven and probable reserves. The average for African and Middle Eastern deals in 2008 — a year with triple-digit crude prices — was under $5 a barrel, according to consultants IHS Herold and Harrison Lovegrove & Co.  Throw in Addax’s possible reserves and contingent natural-gas reserves and the multiple drops to just over $7 a barrel of oil equivalent. Your average buyer would never factor in such rosy assumptions. But then Sinopec, 66%-owned by
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Zero Hedge

'Father Of Credit Risk Modeling' Has Ominous Warning Over "Insolvent" Companies Piling Up Debt

Courtesy of ZeroHedge View original post here.

“When there is an increase in insolvency risk, what you do not need is more debt. You need less debt.”

That is the common-sense warning from Ed Altman that every talking head in the world seems incapable of understanding or admitting.

Altman, wh...



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Phil's Favorites

Was that the Top?

 

Was that the Top?

Courtesy of  (originally posted on July 13, 20) 

That was one heck of a reversal today in tech stocks. At one point the Nasdaq-100 was up more than 2%, but it gave up all of those gains and then some, finishing the day down over 2%.

After a 60% move off the March lows, the question on many investor’s minds tonight is, “was that the top?”

This type of reversal is rare and is only seen in volatile markets. It happened at the bottom in March 2020, and before that you’d have to go all the way back to the bottom of March 2009.

It’s happened at the bottom, but it also ha...



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Biotech/COVID-19

How 'good' does a COVID-19 coronavirus vaccine need to be to stop the pandemic? A new study has answers

 

How 'good' does a COVID-19 coronavirus vaccine need to be to stop the pandemic? A new study has answers

The lower the vaccine’s effectiveness, the more likely social distancing in some form may still be necessary. Gopixa via Getty Images

Courtesy of Bruce Y. Lee, City University of New York

The U.S. is pinning its hopes on a COVID-19 coronavirus vaccine, but will a vaccine alone be enough to stop the pandemic and allow life to return to normal?

The answer depends on a how “good” the vaccine ends u...



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ValueWalk

Whitney Tilson Is Bullish On Bank Stocks

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors disucssing him being bullish on bank stocks; the bear case; Doug Kass with the bull case.

Q2 2020 hedge fund letters, conferences and more

Earnings Season For The Big Banks

1) It's earnings season for the big banks this week.

Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC) reported this morning... Goldman Sachs (GS) is up tomorrow... and Bank of America (BAC) and Morgan Stanley (MS) round things out on Thursday.

The sector has been decimated this year. The Invesco KBW Bank Fund (KBWB) is down 35% year to date, vast...



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Digital Currencies

Bill Gates, Elon Musk, Jeff Bezos, Bloomberg, Kanye, Apple Twitter Accounts All Hacked In "Nigerian" Bitcoin Scam, Over $100,000 Stolen In Minutes

Courtesy of ZeroHedge

The twitter accounts of two of the world's richest men, Bill Gates and Elon Musk (and perhaps others) were hacked late on Wednesday, in what appears to be a version of a "Nigerian" bitcoin scam.

At 440pm ET, Musk tweeted the following:

Microsoft founder Bill Gates had a similar tweet.

As did Jeff Bezos:

...



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Kimble Charting Solutions

Junior Gold Miners Working On 7-Year Breakout!

Courtesy of Chris Kimble

Its been a long 7-years if you happened to buy Junior miners ETF (GDXJ) back in 2013, as it has traded sideways since those highs.

This chart comes from Marketsmith.com, which reflects that GDXJ is trading above long-term moving averages and its relative strength continues to push higher.

GDXJ has spent the majority of the past 7-years inside of the trading range (1).

The rally off the bottom of the range in March, has GDXJ working on an upside breakout of this trading range at (2).

A...



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The Technical Traders

Second Phase Real Estate Collapse Pending

Courtesy of Technical Traders

Real estate, especially commercial real estate, is likely to be the first segment of the real estate market to enter the second phase of an extended collapse.  The COVID-19 virus has created an atmosphere where continuing operations for retail, restaurants, and many other business segments is virtually impossible to maintain.  Without the ability to earn sufficient income, thousands of restaurants and other retail businesses have already closed or are in the process of closing.  This has pushed the commercial real estate market into turmoil.  We believe the residential real estate market will follow the commercial market because consumers are going to suffer as commercial real estate collapses....



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Chart School

Dow 2020 Crash Watch - Update

Courtesy of Read the Ticker

Like 1929 the markets have bounced. This time it is on the back of the FED $6.5T money printing.

Previous Post: Dow 2020 Crash Watch 

But can the FED blow $6T every time the market rolls down to test support.

Yes, maybe before the US 2020 elections the FED will do 'what it takes'. But post elections not so much, the year 2021 is a long way from the next election (presidential or congress) and defense of the markets may not be so supportive at $6T or $10T per market smash. The FED may hesitate, and that will be window for stocks to break lower.

The 36 month simple moving a...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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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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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.