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Yep, I'm holding through earnings tomorrow morning. JPM has historically popped 10% on solid earnings what what I've researched. If they can close 34.5/35, they could potentially open 37/38 tomorrow morning. If that's the case, my calls tomorrow morning could be worth 15x or more. Lottoooooooooooooo
I am in on some JPM Calls btw
Filled Buy to Open 36 JPM Jul 13 2012 37.0 Call Limit 0.06 -- -- 11:57:12 07/12/12
I'm trying to decide what a bigger payoff would be - figuring out the China data and playing an AAPL gap tomorrow morning or playing JPM calls for tomorrow (at exp date). I'm leaning toward JPM at this point and playing AAPL throughout the day tomorrow. Considering 36w calls and 37w calls.
AAPL clawing back. I'm still holding because I think that sell off was garbage. Looking for strong close and gap open tomorrow! Let's GO AAPL 610!
There we go! I'm on the same side as our resident AAPL specialist! Strong support around 601 and 600. Any positive news that takes the market higher will push AAPL to 610 going into late tomorrow and early Friday IMO.
I'm forgoing my AAPL EOD buy and buying now. I think this market will turn north on the Fed's comments today, so AAPL should see a nice bounce imo.
Filled Buy to Open 5 AAPL Jul 13 2012 610.0 Call Limit 1.88 -- -- 13:34:12 07/11/12
Calls or puts?
I'm going to load AAPL calls at EOD if it's still below 605. I'll probably load 610s. It hit strong support at 601.60 and I expect to see a run to 610 or 615 by EOW.
Alright, I'm looking for one lotto play today that I can ride through the end of the week! Just for a bit of fun while I watch AAPL and some other longer-term plays. Any suggestions?
The last time I went against you on a ER, you took me to school. Now we are on the same side! I am feeling better about AA's chances LOL
Yeah, not much to play right now. I'm just scanning and waiting for Friday's AAPL pop at 3:00pm :P
I don't see much downside to 8, even with a poor report. Unless it was phenomenally bad of course (see: RIMM).
Still, I think straddle could be a solid play. There's just so much information to digest due to AA being the 1st earnings play of the new quarter.
I'm holding 8 AA $9 calls @ .14. Expectations are so low that any reasonable beat and/or higher guidance will shoot this through the roof.
Woo, I'm going to save my AAPL theta because I think they are going to peg AAPL at 605 today. Just can't see it going higher but if it does, congrats! I bought my AAPL calls and then went to lunch, watched AAPL touch 605.6 on my phone, came home to it being 603.3 and sold when it touched 605 again. 10% profit but a roller coaster. Congrats everyone!
Come on AAPL rally!
If AAPL can sell off to roughly 601-602 before the afternoon, we will see a strong push under 600 IMO. I think today is one of AAPL's classic Friday afternoon selloffs. Holding my 600w puts here to see what the setup is going to be.
I'm in AAPL 600w puts
Test of 600 will be key. Break that, 590 EOD IMO.
In the end, I took profits on my AAPL calls because I don't know that I'll be able to watch the markets closely tomorrow.
Final totals:
In 3 615w calls @ .33, OUT 3 615w calls @ 1.5!
Holding AAPL until tomorrow? Think it will continue its upswing? I'd hate to hold overnight and see it drop to 600 again lol
I had 15 575w AAPL calls yesterday at 3:54 EST. Sold them at 3:55 EST. I bought @ .40, sold at .44. They now sit at 8.10x8.20.
Ugh.
Sigh, I sold AAPL calls 5min before the bell yesterday and bought VXX calls thinking that it was a fake rally. I'm convinced we would have seen a 1-2% down day if the summit didn't produce this mirage today. Instead, I watch 575w calls go from .40 to 3.6 (I sold at .44) and my VXX calls go from .15 to 0.
I just can't figure this market out.
I think it's a great buying opportunity tbh. With the Olympics right around the corner, I think Nike will eventually head above $100.
Market is acting like this is something major. What is the German chancellor comes out tomorrow and says we've decided nothing at the summit? The market will tank again. I'm loaded on VXX calls overnight - I waited for the dip all day and got it.
Also, I traded AAPL .40 to .44 and could have held to .50 but I wanted to get in on the VXX dip before market closed!
premiums look inflated to me...
I think NKE will miss and drop a bit. I'll use that opportunity to buy August calls for the Olympics!
Market trying to rally here... sign of things to come tomorrow?
I was thinking red this morning but I am thinking that the market is pricing in some negativity from the EU summit. This sell-off today seems overblown and I was expecting a slight red day, followed by a large red day. I've got this feeling that we're going to see a rebound tomorrow...
So I'm going to say green. VXX closes the gap and we end the week on a positive note. AAPL looks to be at a bottom and I think it will produce a solid gain tomorrow. I'm in on some 575 calls and I'm eyeballing VXX puts as well.
Scratch that, VXX looking to dive right here it looks like. If it closes the gap at 16.8, I'll be looking to buy this dip and ride until tomorrow!
Gonna buy VXX calls later today. IMO, another red day coming tomorrow (EU summit conclusion). I'll then play the 3:00pm gainer and call it a week!
I exited VXX @ .45 this morning (from .29)
Looking for a re-entry point. Should get one after things calm down and gap closes @ 16.8.
S&P close for Friday: 1289.99
VXX .39x.40 at the bell!
I sold my X early this morning for a slight loss :(
VXX calls have also exploded over the last hour. As of 2pm, ratio was roughly even. At this moment, call volume > put volume by 3,000 contracts. This further confirms my belief that VXX could have a huge day tomorrow and Friday.
VXX is hovering around 16.6, which is a slight loss for the day. The DJIA is up 100 points. This ETF usually works inversely to the DJIA but it has remained solid. I'm taking this as people are going long on VXX for the next couple days...
I'm in calls @ .29, currently .31x.32 and was at a high of .36x.37. I'm holding for a power move above $17 and if the DJIA really tanks tomorrow or Friday, VXX could spike to 19 or 20.
OOPS - I wrote puts but I meant calls! I edited my previous message. Thank you for the heads up!
I'm in VXX calls but SPY puts were tempting. I think VXX could have a slightly bigger move if bad news compounds.
It's more than that. I think the EU summit will prove to be useless, which will lead to sell-off on Friday. I'm also looking for poor U.S data tomorrow.
I'm setting up for the EU summit and U.S data today. Bought some VXX 17w calls and I'll be looking at other put positions as well. I don't think the EU summit is going to produce anything and we could see a huge sell-off as a result.
I think this will dip under $15 tomorrow but they saved themselves a 10% drop by putting out nonsense like that. You can put lipstick on a pig...
What I'm hoping to see tomorrow is a gap up at open, give me a pop in X so I can bail out and re-assess the best play to short into EU summit Thurs/Friday. Should see some good sell-off on lack of action/German stonewalling. I'll have to do more research tonight. If X opens strong, I'll probably sell half and hold half to see what happens the 2nd part of the day.
H&R Block Inc. (HRB) reported that its fourth-quarter net income declined to $586.10 million or $1.99 per share, from $658.56 million or $2.14 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.05 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter were $2.00 billion, compared to $2.05 billion in the prior year quarter. Four analysts had consensus revenue estimate of $2.01 billion for the quarter.
In fiscal 2012, the company repurchased and retired 14.6 million shares of its common stock at an aggregate price of $200.0 million, or $13.74 per share, including the repurchase of 1.5 million shares during the fourth quarter. At April 30, 292.1 million shares were outstanding.
During the first quarter of fiscal 2013 to-date, the company has repurchased and retired an additional 21.3 million shares at an aggregate price of $315.0 million, or $14.82 per share. As of today, 270.9 million shares are outstanding.
The company said it completed these share repurchases under a $2.0 billion share repurchase program approved by the company's board of directors in June 2008. Under this program, the company has repurchased shares of its common stock for an aggregate purchase price of $1.1 billion. Although the share repurchase program was originally scheduled to expire on June 30, 2012, the company's board recently voted to extend the expiration of the program until June 30, 2015, H&R Block said.
So based on what I'm reading here (source:NASDAQ and RTTnews), they missed on EPS, Revs and tapped into a share buyback program that was voted on in 2008. That's garbage IMO. They will probably prop up their quarter with some above-average guidance.