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Options Trading News

June 26, 2013  Wed 7:32 AM CT

SYNA: SEE CHART GET CHAIN FIND STRATEGIES

Mobile Demand Provides a Boost

Synaptics said it expects to report revenue of $227 million to $230 million for the fourth quarter ending on June 30. That's up nicely from the $190 million to $205 million estimate provided earlier. The maker of chips for touch screens cited strong mobile demand. SYNA rallies 13 percent before the opening bell on my tradeMONSTER platform.

Apollo Earnings, Revenue Miss

Apollo Group earned just $0.71 a share in the third quarter, missing the $0.85 average analyst estimate. Revenue of $946.8 million also lagged the $965 million consensus number, hurt by lower enrollment. APOL drops almost 5 percent in the premarket.

Silver Miners Take a Hit

Silver is down more than 4 percent today, and producers are taking it on the chin. Silver Standard Resources (SSRI) declined 5 percent, Hecla Mining (HL) fell 6 percent and Pan American Silver (PAAS) shed almost 4 percent in early trading, to name a few.

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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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