Low Vix/Broker Break Out?
For
those of you planning on attending the Trading Markets 2000 conference at the Venetian Hotel
Resort and Casino in Las Vegas on October 13-15, 2000, I’ll be speaking on
Saturday afternoon following Leno. I’ll also be at the cocktail party
Friday night. Sign up soon as space is limited.
SCI Systems
(
SCI |
Quote |
Chart |
News |
PowerRating), on theface=”Arial, Helvetica”>
From Highs List, may present a opportunity for covered
calls. You can buy the stock for 59 3/4 and sell
the October 60 calls for 5 1/2. This represents
approximately a 9% return (more than 50% annualized, based
on 57 days until expiration) should the stock be called
away.
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Broker/dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
looks poised to rally out of a high live "micro" cup and handle
formation. Look for buying opportunities in calls and call spreads here.
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On
the short side, retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) is hovering near its recent lows and
looks poised to make another stab lower. Look for buying opportunities in puts
and put spreads here.
Once
again, the VIX remains near yearly lows. Continue to look for buying
opportunities in OEX puts and put spreads.
Best
of luck with your trading on Friday!
P.S. Reminder:
Protective stops on every trade!