Option Block 441: Bring in the Punt Team

Trading Block: Rally ho on the street.

• Fitbit IPO prices at $20 a share, above expectations. Fitbit Inc., the maker of wearable fitness-tracking devices, priced its initial public offering above its estimated range at $20 a share, raising $732 million. That makes it the biggest tech IPO this year and gives it a market cap of roughly $4 billion.
• Apple Bands - Apple (AAPL) shares are in focus in early trading. The tech giant is reportedly amassing major profits from its Apple Watch band. Reuters reports that nearly 22% percent of Apple Watch buyers purchase one or more spare bands. Apple has sold approximately 2.8 million watches since of mid-June, according to an estimate from research firm Slice Intelligence.
• Oracle tumbles - shares are tanking in early trading. Shares of Oracle tanked 7.6% in premarket action after the software company late Wednesday reported a drop in fourth-quarter earnings.

Odd Block: Calls trade in Williams Companies Inc. (WMB), calls trade in Toll Brothers Inc. (TOL), and puts trade in iShares MSCI EAFE Index Fund (EFA)

Mail Block: Listener questions and comments:

• Question from TennisGr8t - Longos Odd Block show. If technical analysis is not good for options how then do you get trade ideas? Are any of the newsletters that get hawked daily any good? I am leaning NO. Great show gents.
• Question from Anthony Sontakis - Hi, this message pertains to futures options. I currently trade futures options on Tradestation Futures+ platform. I was hoping someone might be able to recommend a Futures Options trading platform for a solo trader like myself. I need the ability to enter advanced orders like OCO and OSO based on the underlying price, and I need the ability for profit/loss graphs, neither of which features Tradestation platform supports right now. The only platform I have found that supports what I need is OptionsCity, but the pricing is for institutions ($2500/month) - that is cost prohibitive for me. Are there any good but affordable platforms out there to trade Futures Options for a little guy like me? Thanks, Anthony

Around the Block: Oracle, Rite-Aid earnings. Continuing to punt on the Fed. NASDAQ closes at record high. Another summit on the Greece bailout.