In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these stocks may need to see a break past key support or resistance:
URI, NSC, UNP, TRN, GBX, JNJ, FB, TRW, VMC, GMCR, SPW, AAP, WLL, JAZZ, AYI, MNST, STZ, CYT
NEW DIRECTIONAL CALL PLAYS
Ameriprise Financial - AMP - close: 118.20 change: +1.28
Stop Loss: 114.40
Target(s): To Be Determined
Current Option Gain/Loss: Unopened
Time Frame: 8 to 12 weeks
New Positions: Yes, see below
Why We Like It:
AMP is in the financial sector. The company, and its subsidiaries, provides a range of financial products including advice and wealth management. The company had a record year in 2013 and it looks like the momentum has continued into 2014. The company' last earnings report was its Q1 results, reported on April 28th. Wall Street was expecting a profit of $1.88 per share on revenues of $2.84 billion. AMP delivered $2.04 with revenues rising +11% to $3 billion.
AMP's Q1 results were a +19% improvement from a year ago. Furthermore both revenues and margins are improving. AMP raised its dividend 12 percent to 58 cents (currently at a 2.0% yield) and announced a $2.5 billion stock buy back program.
Technically shares of AMP are in a long-term up trend and just recently broke out from a five-month consolidation. Traders have already jumped in to buy the dip at prior resistance near $115.00.
Tonight we're suggesting a trigger to buy calls at $118.80.
Trigger @ $118.80
- Suggested Positions -
Buy the Sep $120 call (AMP140920c120) current ask $3.90
Option Format: symbol-year-month-day-call-strike
Entry on June -- at $---.--
Average Daily Volume = 823 thousand
Listed on June 18, 2014