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May 21, 2013  Tue 7:26 AM CT

HD: SEE CHART GET CHAIN FIND STRATEGIES

Earnings, Sales Beat Expectations

Home Depot earned $0.83 a share in the first quarter, better than the $0.77 expected by analysts. Sales of $19.12 billon also beat the $18.68 billion consensus estimate, and management raised full-year guidance thanks to the strong housing market. HD climbs 3 percent before the bell on my tradeMONSTER platform.

Kosmos Abandons Cameroon Oil Well

Kosmos Energy announced results from its Sipo-1 exploration well in Cameroon, and the news isn't good. The company "failed to encounter commercial reservoirs" and is abandoning the effort. It will also take a $75 million expense in the second-quarter. KOS drops more than 8 percent in early trading.

Phase III Data Lifts AcelRx

AcelRx Pharmaceuticals reported that its Sufentanil NanoTab pain drug reached the primary endpoint in a Phase 3 trial. Management plans to seek approval for the product in the third quarter. ACRX is up 14 percent in early trading.

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Education & Strategy

Sweet Spot Exceptions

As discussed last week, when using the Stock Replacement Strategy to replace a stock position to trade direction, we want to use an option that has very similar characteristics to the stock. We talked about using the deep in-the-money, 80 to 85 delta option that is similar in the Greeks and has relatively little extrinsic value which tends to work against us in stock directional trading.

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