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July 2, 2013  Tue 7:35 AM CT

ZNGA: SEE CHART GET CHAIN FIND STRATEGIES

Xbox Exec at the Helm

Zynga announced it hired Don Mattrick as CEO, replacing founder Marc Pincus. Mattrick is well known for building Microsoft's Xbox into a major gaming platform, and the news is propelling ZNGA higher by 7 percent before the bell on my tradeMONSTER platform.

Achillion Down on FDA Move

Achillion Pharmaceuticals said the Food & Drug Administration froze clinical trials of its experimental hepatitis C drug after some patients reported higher liver enzymes. ACHN craters 21 percent in the premarket.

Xyratex Rises on Strong Results

Xyratex reported second-quarter earnings of $0.10 a share, while analysts had expected a $0.05 loss. Revenue of $216.2 billion also topped the $203.2 million consensus number. XRTX rose 5 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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