Thursday, June 6, 2013

Thursday June 6 Pre-mkt Outlook

The /ES looks to open around 1607 after closing yesterday at 1606. It hit an overnight high of 1616 and a high of 1606.

$CIEN is up 13% on earnings trading around 18.25 in the pre-mkt after closing at 16.31 yesterday. The stock above 18 could serve as a potential breakout as 30% of the float is short. Idea: 19 calls

$CONN is up 10% in the pre-mkt as it sits at all time highs. It closed at 48.46 and looks to open around 52.50. 20% of the float is short. Idea: 55 calls? Not a big fan of it, low OI

$PAY is down about 20% in the pre-mkt trading around 18.15 after closing at 21.95. The 17.50 level looks to be recent low support, wouldn't be surprised to see the stock bounce off that today. Idea: 18 puts

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