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Sang Lucci

Sang Lucci has been successfully trading options for over six years. He began his career at a proprietary trading firm where he studied the techniques of other traders while managing his own account...

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Sang Lucci January 10th Pre-Market Update

Futures are trading at the highs of their recent consolidation range and looking to break higher this morning off positive trade data out of China. ECB is keeping rates low as well. Jobless Claims came in lower than expected, climbing by 4,000 to 371,000 applications for unemployment benefits. The futures weren't affected by the increase though and have held their gains thus far.

Apple (NASDAQ: AAPL) put in a 12 point move higher in the premarkets this morning, after pushing people towards the short side on a break of support during yesterday's trading session through $520. Many traders, including myself, were close to betting big on a drop back to $500. Investors are now speculating on a deal with China Mobile which could be the reason for the bullishness. That stock will be active today so keep an eye on it.

Herbalife (NYSE: HLF) continues to control the spotlight as the hedge fund giants battle back and forth. Dan Loeb's Third Point fund is saying the stock is worth $55 while Ackman vows to expose the company for its malpractices. The stock is up slightly in the premarkets but is now headline driven so be careful taking a position either side.

Today is shaping up to be an active session and since it's a Thursday, weekly premiums should be running nice and cheap. If the indexes can make a big move either today or tomorrow, those options expiring tomorrow will yield some serious alpha.

GOOD MORNING YOUNG WORLD!

Posted in: Options Markets Trading Ideas