Real-time equity news
U.S. stock market report
1726 ET 22Oct2010
Earnings diary for Oct. 25
Earnings expected for Monday include Amgen, Lorillard Inc, Plum Creek Timber, Roper Industries and Texas Instruments . Reuters Messaging: Charles.mikolajczak.thomsonreuters.com@reuters.net
1722 ET 22Oct2010
Economic diary for Oct. 25
Economic events scheduled for Monday include existing home sales for September. Reuters Messaging: Charles.mikolajczak.thomsonreuters.com@reuters.net
1714 ET 22Oct2010 Starbucks options traders hope to catch more gains
Starbucks Corp had a caffeine boost this morning as a number of option traders accumulated calls, apparently looking for additional share price gains within the next few weeks. The stock rose 4.4 percent to $28.49, after notching a new year high of $28.61. Bullish players hoping to see shares reach new highs by November expiration are scooping up in- and out-of-the-money calls and selling put options, said Interactive Brokers Group equity options analyst Caitlin Duffy. About 41,000 calls traded, more than four times the number of puts in the cafe chain on combined volume that was 6.3 times its average daily turnover, according to Trade Alert. The top trade was 6,944 November $28 calls on the 62-cent bid. Beyond that, the action seems two-sided on the November $27, $28, $29 and $30 calls, said WhatsTrading.com options strategist Frederic Ruffy. The November $27 puts attracted interest as well. The stock's option implied volatility rose about 9.5 percent to 34 percent during the session, he said. Starbucks is slated to report quarterly earnings on Nov. 4.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1706 ET 22Oct2010
Wall St posts third straight weekly gain
U.S. stocks capped a third straight week of gains on Friday as encouraging earnings helped the market sustain upward momentum, led by Baidu Inc, the latest tech company to beat estimates.
The Dow Jones industrial average dropped 14.01 points, or 0.13 percent, to 11,132.56. The Standard & Poor's 500 Index gained 2.82 points, or 0.24 percent, to 1,183.08. The Nasdaq Composite Index gained 19.72 points, or 0.80 percent, to 2,479.39.
Reuters Messaging: edward.krudy@reuters.com@reuters.net
1555 ET 22Oct2010 Options risk gauge fades as S&P 500 stays in tight range
The CBOE Volatility Index fell 2.23 percent to 18.89 as the S&P 500 index stays in a tight range. Heading into the weekend, the SPX has been hemmed in its narrowest range in months, said optionMonster analyst Chris McKhann in comments on the firm's website. The S&P benchmark sits at 1,182.94, up 0.23 percent. In volatility metrics, the VIX futures continue to collapse on the spot. The November futures has traded at 21.3, down 3 percent and December at 23.95, is off 2.8 percent. January is all the way up above 26, pricing in a 40 percent increase in volatility going into 2011, he said.
The action in those front month VIX futures has pushed the iPath S&P 500 VIX Short Term Futures exchange-traded note to a new year low of $12.85. The ETN offers directional exposure to volatility and is based off of the front two-month VIX futures. 'The rebound from Tuesday's sell-off was swift, but has come on lighter volume and the markets inability to hold up above this resistance at 1,185 is disconcerting,' McKhann said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
U.S. stock market report
1726 ET 22Oct2010
Earnings diary for Oct. 25
Earnings expected for Monday include Amgen, Lorillard Inc, Plum Creek Timber, Roper Industries and Texas Instruments . Reuters Messaging: Charles.mikolajczak.thomsonreuters.com@reuters.net
1722 ET 22Oct2010
Economic diary for Oct. 25
Economic events scheduled for Monday include existing home sales for September. Reuters Messaging: Charles.mikolajczak.thomsonreuters.com@reuters.net
1714 ET 22Oct2010 Starbucks options traders hope to catch more gains
Starbucks Corp had a caffeine boost this morning as a number of option traders accumulated calls, apparently looking for additional share price gains within the next few weeks. The stock rose 4.4 percent to $28.49, after notching a new year high of $28.61. Bullish players hoping to see shares reach new highs by November expiration are scooping up in- and out-of-the-money calls and selling put options, said Interactive Brokers Group equity options analyst Caitlin Duffy. About 41,000 calls traded, more than four times the number of puts in the cafe chain on combined volume that was 6.3 times its average daily turnover, according to Trade Alert. The top trade was 6,944 November $28 calls on the 62-cent bid. Beyond that, the action seems two-sided on the November $27, $28, $29 and $30 calls, said WhatsTrading.com options strategist Frederic Ruffy. The November $27 puts attracted interest as well. The stock's option implied volatility rose about 9.5 percent to 34 percent during the session, he said. Starbucks is slated to report quarterly earnings on Nov. 4.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1706 ET 22Oct2010
Wall St posts third straight weekly gain
U.S. stocks capped a third straight week of gains on Friday as encouraging earnings helped the market sustain upward momentum, led by Baidu Inc, the latest tech company to beat estimates.
The Dow Jones industrial average dropped 14.01 points, or 0.13 percent, to 11,132.56. The Standard & Poor's 500 Index gained 2.82 points, or 0.24 percent, to 1,183.08. The Nasdaq Composite Index gained 19.72 points, or 0.80 percent, to 2,479.39.
Reuters Messaging: edward.krudy@reuters.com@reuters.net
1555 ET 22Oct2010 Options risk gauge fades as S&P 500 stays in tight range
The CBOE Volatility Index fell 2.23 percent to 18.89 as the S&P 500 index stays in a tight range. Heading into the weekend, the SPX has been hemmed in its narrowest range in months, said optionMonster analyst Chris McKhann in comments on the firm's website. The S&P benchmark sits at 1,182.94, up 0.23 percent. In volatility metrics, the VIX futures continue to collapse on the spot. The November futures has traded at 21.3, down 3 percent and December at 23.95, is off 2.8 percent. January is all the way up above 26, pricing in a 40 percent increase in volatility going into 2011, he said.
The action in those front month VIX futures has pushed the iPath S&P 500 VIX Short Term Futures exchange-traded note to a new year low of $12.85. The ETN offers directional exposure to volatility and is based off of the front two-month VIX futures. 'The rebound from Tuesday's sell-off was swift, but has come on lighter volume and the markets inability to hold up above this resistance at 1,185 is disconcerting,' McKhann said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.