Market Overview

Mid Day Trading Update – Alcoa Kicks Off Earnings

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Folks, it's that time of the year again where we analyze all publicly traded companies and make bets on how their quarters went and what the reports could mean about the future of their business. Q1 Earnings season kicks off with Alcoa tonight and we do have some high-profile bank earnings coming out later this week. For you intraday traders, make sure you know when the companies on your main watchlists are reporting and be prepared to trade the juice that is likely to ensue shortly after. We here at, don't actually put on positions prior to an earnings report being released and find it be to much of a gamble.

The sentiment in the markets today is somewhat bearish but we're basically chopping around breakeven territory for the indexes. Many sectors are in the red, however, and this trend could continue if the S&P doesn't start heading towards that all-time high. Solid bank earnings could be the catalyst for this rally, but only time will tell.

With this chop environment, it's tough to find solid daytrades that are moving with the conviction needed to make money long a physical option. Selling calls was a solid trade idea for many of the large-cap tech names that have been moving as of late. Priceline (NASDAQ: PCLN) , Google (NASDAQ: GOOG), Netflix (NASDAQ: NFLX), and Apple (NASDAQ: AAPL) are all experiencing unusually weak tapes. Selling calls is the best way to capitalize on the low-liquidity, light volume environments we are seeing now.

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Posted-In: Options Markets Trading Ideas


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