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Options Trading News

April 9, 2013  Tue 7:29 AM CT

JCP: SEE CHART GET CHAIN FIND STRATEGIES
CEO Ron Johnson Gets the Boot

J.C. Penney announced the ouster of CEO Ron Johnson yesterday. The beaten-down retailer initially rallied on the news, but then brought back predecessor Mike Ullman. That has investors questioning the competence of the board, and JCP is down more than 6 percent before the bell on my tradeMONSTER platform.

Revenue Lifts Staar Surgical

Staar Surgical reported preliminary first-quarter revenue of $18 million, better than the $16.5 million expected by analysts. The maker of implantable eye lenses cited runaway growth in Europe. STAA surges 19 percent in early trading.

Special Dividend at Corrections Corp.

Corrections Corp. of America announced a special dividend of $675 million, or $6.63 a share. CWX, which closed at $37.97 yesterday, is advancing 4 percent on the news in premarket trading.
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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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