Options Trading News

July 2, 2013  Tue 7:35 AM CT


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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Options Academy: More on the Covered Call Strategy

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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