S&P, Nasdaq Hit New Highs Ahead of Trump Speech

Rockwell Automation and Advance Auto Parts stocks are making big post-earnings moves

Nov 12, 2019 at 11:51 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJI) is up modestly at midday, getting a lift from Walt Disney (DIS) stock, which is higher amid the launch of the Disney+ streaming service. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are cautiously higher, too -- tagging new record highs earlier -- as traders look toward today's speech from President Donald Trump, set to get underway at the Economic Club of New York any minute now, watching for any additional comments he may have on U.S.-China trade negotiations.

 Continue reading for more on today's market, including:

midday market stats nov 12

Ride-sharing service Uber Technologies Inc (NYSE:UBER) is seeing unusual options trading today, with Trade-Alert highlighting a 2,136-contract block of weekly 11/22 29-strike calls that was likely bought to open for $64,080 (number of contracts * $0.30 premium paid * 100 shares per contract). This makes breakeven for the call buyer $29.30 (strike plus premium), which sits 7.8% above UBER stock's current perch at $27.18, up 0.1% so far today -- just above its Nov. 6 record low of $25.58.

Rockwell Automation (NYSE:ROK) is one of the best stocks on the S&P 500 today, up 13.3% at $203.05, fresh off a 22-month high of $207.11. This comes after the industrial automation equipment maker reported better-than-expected fiscal fourth-quarter adjusted earnings, and gave upbeat full-year profit guidance.

rok stock daily price chart on nov 12

Advance Auto Parts, Inc. (NYSE:AAP) is at the bottom of the SPX this afternoon, after the auto parts retailer unveiled lower-than-anticipated third-quarter gross profit margin, and slashed its full-year same-store sales growth forecast. This is overshadowing a quarterly profit beat, while revenue for the three-month period matched the consensus estimate. In reaction, AAP stock is down 7.6% to trade at $155.99 -- a move options bears were ready for.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners