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November 21, 2012  Wed 7:24 AM CT

SCHL: SEE CHART GET CHAIN FIND STRATEGIES
High Margin Products Take A Hit

Scholastic lowered its guidance for the current fiscal year. It now expects to earn no more than $1.60 a share, compared with previous guidance of $2.20 to $2.40. Revenue will also miss expectations, but the real problem is that schools are spending less on high-margin products. SCHL craters by 21 percent before the bell on my tradeMONSTER platform

Deere Squeezed by Higher Costs

Deere reported fourth-quarter earnings of $1.75 a share well below the $1.88 average analyst estimate. Revenue beat expectations, but higher costs squeezed profits, and DE is lower by about 2.5 percent in the premarket.

Cirrus Logic Climbs on Buyback Plan

Cirrus Logic announced a $200 million stock buyback. That's about 10 percent of the company's market cap, and CRUS is popping by more than 6 percent before the bell.
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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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