I sold the June 46 puts in my IRA today. The buyers hit my asking price of 1.45 per share. this gives me an annual yield of 10% and if the stock is put to me at 46 in June I think it's an excellent value.
Currently short the March and June 46 puts, long the stock and short the June 55 calls all in my IRA.
The September 48 put options look cheap. They're price at about 1.5 per share. PM could report bad earnings. Investors may sell because they need to raise money to pay taxes. We could also see the entire market correct as we approach 1100.
European Industrial Orders Unexpectedly Increase 0.8% (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Simone Meier
Feb. 24 (Bloomberg) -- European industrial orders unexpectedly rose for a second month in December led by a surge in demand for capital goods such as machinery and equipment.
Orders to industrial companies in the 16-nation euro area rose 0.8 percent from November, when they gained 2.7 percent, the European Union’s statistics office in Luxembourg said today. Economists forecast a drop of 1 percent, according to the median of 18 estimates in a Bloomberg News survey. From the year-earlier month, industrial orders increased 9.5 percent, the first annual gain since July 2008.
The euro’s 9.6 percent drop against the dollar in the past three months is making European exports more competitive just as the global economy gathers strength. Manufacturers in the region may remain reluctant to step up spending and hiring after growth in the euro-area economy almost ground to a halt in the fourth quarter. Lafarge SA, the world’s largest cement maker, said last week that it will continue to cut costs this year.
“Orders are doing quite well, supporting the economy,” Christoph Weil, a senior economist at Commerzbank AG in Frankfurt, said before the data were released. Still, “it’s a bumpy recovery and the euro-region economy will hardly gain momentum in the first quarter.”