Amedysis ( $AMED ) was on fire today, finishing up 8.72% and making a new 52 week closing high of $31.67. The large move was mostly inspired by an upgrade over at Suntrust, who raised their price target on the stock to $36 from $31, and moved their rating up to Buy from Neutral. The stock has mostly struggled in 2015, but today's swing puts the stock up 7.9% on the year, a gain that outpaces all the indexes year-to-date.
Option traders are pretty darn smart. Just look at the action before and after today's $BRCM $AVGO news. Today someone was grabbing CALL contracts quicker than a FIFA official takes a bribe.
Anyone buying weekly calls before today's viagra candle is sitting on a hefty profit this evening.
The main headline in the currency market yesterday was that the USD/JPY (Dollar/Japanese Yen) broke a major resistance point, in fact it was a 25 year resistance line. Given the positive fundamental picture for this currency pair, and the breakout from major consolidation I think that the trade has more to room to the upside with little risk. After consolidating for all of 2015, the USD/JPY has finally broken out on heavy volume. To me that is the key: heavy volume. We saw a failed breakout on the SPY because it was on weak volume. When you have a breakout on heavy volume it means there is strong commitment to the trade and a lot of money going your way. I went long the FXY July 79 puts for $1.20. The FXY tracks the Japanese Yen vs the US Dollar. So by buying puts I am better that Yen will fall in value vs the Dollar.I am not sure how long I will hold them. I do not trade currencies that often so I will most likely just let the price action do the talking for me.
