Earnings Barrage Prep
Even if the day has a half-hearted feel to it, that won't stop the barrage of earnings we are going to see tonight and tomorrow morning. Although many companies reported during the two-day layoff, there were plenty of companies who chose to delay their filings. I'm a bit hesitant to trade anything today, but I did spot a few charts at least worth a look.
First up is Visa (V). The report from MasterCard (MA) was good, although I wouldn't call it great. V has a bit more of an international flavor, so if I had to pick a single direction, I'd be a bit more bearish. But I still believe the company will deliver a slight beat. Overall, I expect it to maintain a $135-141 trading range with $133-142 as the extended range. My approach here will be to sell premium, so I am shorting a Nov. 2 $135-130 put spread along with a November $140-145 call spread (also known as an Iron Condor) for $1.82 or better....414 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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