Earning date: 1/31
Expected result: a loss of $0.84 with Revenues of $4.73B is expected
Past post-earning reason: lower 9 out of 10
Past pro earning movement: Average move 10%
Company value: The $3.3B Steel Co. trades 12.2X earnings, 0.22X sales and 1.03X book
Short interest: 22.95%
Analyst comment: Deutsche Bank reiterated a Buy and $40 target on 1-17-12.
Fundamental: a recovery in 2012, and cost base is improving
Chart:a narrow consolidation range under $28.50 resistance and then breaking out on big volume this past week. The ascending triangle break targets a move to $35, while the downward sloping 200 day SMA at $33.56 is a likely target for shares on the upside.
Straddle price: $2 or 6.66% mov
Option implied vol: February weekly IV at 62.77% compares to February at 51.2%
Big option flow: a late day February $31/$33 ratio call spread traded 5,000X10,000 at $0.23 to open, all bullish action
Strategy:
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