Friday, September 11, 2009

CNBC's Options Action Show

I was home tonight to watch this show at 8:30, and thought I would put a roundup of the discussions for anyone who missed the show to have a look at. All of this is what the talking hads on the show say and think, rather than our opinions and thoughts.

1) There was heavy put buying in Goldman Sachs (GS) and XLF today.

2) Oracle releases earnings next week and one of the traders suggested setting up a synthetic long position in anticipation.

3) Best Buy reports earnings on Tuesday. Two multi-legged strategies were suggested (both bearish).
a) Buy 1 of the 37.5 puts
b) Sell 2 of the 35 puts

OR

a) Buy 1 of the 32.5 puts
b) Buy 1 of the 37.5 puts
c) Sell 2 of the 35 puts

4) Las Vegas Sands (LVS) had three times the normal amount of call buying this week (we are long this stock, and have been since March).

5) Palm reports earnings next week and one trader suggests buying the 13 puts at $0.40

The show's website is optionsaction.cnbc.com

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