Friday, March 22, 2013

Friday, March 22 pre-mkt outlook

The /ES closed yesterday at 1540 and looks to open around 1542 this AM. It traded at an overnight low of 1535 at 0200hrs and a high of 1543.75 at 0745hrs.

$NKE crushed earnings and is trading at 52wk highs in the pre-mkt. The stock closed at 53.65 and hit an ETH high of 58.31 and a low of 57.50. It looks to open around 57.85. I say go with today's weekly 57.50 puts expecting large stock holders to peel some profits off.

$TIF is out with earnings as well which has the stock trading near 52wk highs. The stock closed at 68 and traded at a high of 71.78 in the ETH and a low of 70.50. I would go with weekly 70 puts, again expecting a fade.




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