Sold some May 45 Puts on CIEN premiums seem to be fat & juicy --but maybe that's to prepare me for the shock to have them put the shares as they go to 30 -gg- will do the second leg of the spread if it goes higher from here.
Question for the golden nuts :
I am looking at buying some shares of TIE:
With its titanium sponge, Titanium Metals (TIMET) tries to soak up sales. TIMET is an integrated producer of titanium sponge, ingot, slab, and mill products. Titanium is a lightweight metal used by commercial and military aerospace manufacturers and also the power generation, pollution control, and auto industries. The aerospace industry uses titanium for applications such as jet engine components and wing supports. TIMET's aerospace customers include Rolls-Royce and United Technologies. TIMET also makes forged and rolled products such as pipe, plate, sheet, and strip. The company operates factories in the US (about two-thirds of sales) and Europe. Metals holding company Tremont Corporation owns 39% of TIMET.
Any comments on TIE would be appreciated... TIA
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Some news on the Dollar:
April 25, 7:00 AM: EUR/$..0.8939 $/JPY..122.40 GBP/$..1.4357 $/CHF..1.7125
Euro Slips Ahead of ECB by Jes Black
At 8:30:00 AM US March Durable goods orders sa m/m (exp 0.2%, prev -0.4%)US March Ex Defence (exp n/f, prev -1.2%)US March Ex transportation (exp n/f, prev 0.5%)At 10:00:00 AM US March New Home Sales (exp 912k, prev 911k)At 11:00:00 AM US March Existing Homes (exp 5.10 mln, prev 5.18 mln)
The dollar added to yesterday's gains against the euro and yen, edging slightly higher in calm morning trade to fresh highs of $0.8906 and 122.67 respectively. The euro continues to struggle against the dollar and yen, and fell further against the pound following a report that the European Commission will cut its 2001 euro zone growth forecast to 2.8% from 3.2%. But weighing most on the single currency is Thursday's ECB meeting, at which there is expected to be no rate cut. The euro is therefore expected to trade in a tight range around $0.8900 to $0.8940 ahead of tomorrow's announcement.
Meanwhile, the yen pared more of its election-euphoria gains as the market begins to question whether Japan's soon-to-be prime minister can live up to his reform promises. Markets also reacted to Japan's downward revision of Q4 2000 growth to 0.7% from 0.8%, who cited weaker capital spending and slowing demand for Japanese exports as the cause. USD/JPY jumped to a 5-day high of 122.67 yen, then retreated to its previous high of around 122.40. The dollar is up 1.5 yen from yesterday's one-month lows around 121.10 shortly before the announcement that Koizumi's had won the LDP victory and would likely become the new Japanese Prime Minister. Support seen at 121.80, 121 and 120.90. Resistance seen at 122.40 and 122.80-85.
Appointments of vital cabinet positions are to be announced later this week, and Koichi Kato, a former secretary-general of Japan's LDP, has emerged as a possible choice for finance minister. Kato has long been a close ally of Koizumi and would need to replace Miyazawa as early as Thursday, ahead of a meeting of G7 finance ministers in Washington on Saturday. Despite earlier rumors, no major discussion on FX is expected at the G7 this weekend. However, Kuroda says the G7 will welcome Japan's bad loan disposal scheme.
Sterling rose from earlier one-week lows around $1.4318 to a day's high of $1.4371. Resistance is seen at $1.4380, which is the 66% retracement of the move from the April 9th high around $1.45 to last week's low of $1.4180. Sterling also rose to a day's high of 62.14 pence per euro as the ECB's wait and see approach is seen being counterproductive for the euro zone growth and subsequently the euro. Dealers are seen pressuring the euro again as they refocus on the European Central Bank's interest rate dilemma ahead of this week's monetary policy meeting. Weighing on the single currency is this week's greater than expected rise in state inflation data from Germany compounded by a worse-than-anticipated decline in the key German Ifo business sentiment survey.
This capped the euro's rally at around $0.9080 on Monday, and with the euro/dollar unable to break that resistance level, dealers soon tested support around $0.8945 followed by 89-cents. Euro/dollar support seen at $0.89 followed by $0.8845. Recall that following the last meeting on April 11, the euro fell a full cent to $0.88 before recovering. Euro/dollar resistance seen at $0.8945 followed by $0.90.
Today markets will watch for US new home sales which are expected to rise 1,000 units to 912,000 from the previous month. This would indicate that the housing market has yet to surrender to the impact to US economic slowdown.
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