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Options Trading News

October 8, 2013  Tue 7:30 AM CT

JCP: SEE CHART GET CHAIN FIND STRATEGIES

Sales Improve Compared With August

J.C. Penney said its business seems to be improving, slowly but surely. Same-store sales rose almost 6 percent sequentially last month, while its online segment received a 25 percent boost. Management also said expects year-end liquidity of more than $2 billion. JCP climbs 6 percent before the opening bell on my tradeMONSTER platform.

Talisman Pops on Icahn Stake

We've been all over the call buying in Talisman Energy, and now we know why! Carl Icahn disclosed he has amassed a 6 percent state in the Canadian oil driller and is now the biggest shareholder. TLM rallies 7 percent on the news.

Tower Group Tanks on Reserve Shortfall

Tower Group announced it needs a cash infusion after a review of past years indicated a reserve shortfall. The deficit comes out to $365 million, and it also expects to report an impairment charge of $215 million for the second quarter. TWGP plummets 28 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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