Thursday, May 2, 2013

Thursday, May 2nd pre-mkt outlook

The /ES looks to open around 1584 after closing yesterday at 1578. It hit an overnight low of 1578.50 and a high of 1588.75 at 0840 hours.

$FB is out with earnings this morning after closing yesterday at 27.40. It traded at a high of 28.67 and a low of 26.58 and it looks to open around 28.00 this morning.

$GILD is out with earnings as well and closed 50.15 and looks to open around 53.10. The stock has weekly options available in .50 increments. It's a $77B co. and is up 6%, could look toward some 53puts on the expectation of big $$ profit taking but I hate going against momentum.

$MGM also out with earnings and is trading higher after closing at 13.80 as it trades around 14.58 in the pre-mkt. Maybe trade with the trend and expect a breakout. Play it safe with some ITM weekly 14.50 calls

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