Options Trading News

October 8, 2013  Tue 7:30 AM CT


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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Last week, we talked about the Covered Call and the misconceptions that surround it. We spoke about how an investor must realize that the Covered Call is actually a premium collection strategy and not so much a directional one. If an investor can grasp this idea, the investor stands to do a heck of a lot better in the strategy than they currently do.

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