Friday, May 24, 2013

Friday May 24 pre-mkt outlook

The /ES looks to open around 1641 after closing yesterday at 1650. It traded at an overnight high of 1655 and a low of 1640.

$SHLD is out with earnings which disappointed. Stock closed at  58.11 looks to open around 48.85. It has traded in a $6 range in the pre-mkt. I may look to strangle it off the open.

$IOC is up huge this morning and is at 2yr highs trading at 108 after closing at 92. I am thinking about putting on the 105/110 strangle depending on where it opens and how much it costs.

$CRM is also out with earnings which disappointed. The stock is trading lower at 42.50 after closing at 45.75. It has support at 43 then at 41.

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