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October 17, 2013  Thu 7:30 AM CT

IBM: SEE CHART GET CHAIN FIND STRATEGIES
Quarterly Shortfall Exceeds $1 Billion

International Business Machines earned $3.99 a share in the third quarter, better than the $3.96 expected by analysts. But revenue was just $23.72 billion, well below the $24.75 billion consensus forecast. Full-year guidance was also cut slightly, sending IBM down 7 percent before the opening bell on my tradeMONSTER platform.

Amarin Sees Valuation Cut by More than Half

Amarin announced that a Food & Drug Administration advisory panel voted 9-to-2 against an expanded use of its Vascepa drug. The company wanted it to be used as an adjunct to diet and exercise for certain patients suffering from high triglycerides. AMRN craters 61 percent in early trading.

SanDisk Climbs on Earnings, Revenue Beat

SanDisk earned $1.59 a share on revenue of $1.63 billion. Analysts had expected $1.32 and $1.57 billion, respectively. SNDK climbs almost 5 percent in the premarket.
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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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