New year action

Good morning and happy new year. I hope you all had a great break. The markets are screaming to kick off the new year, up 2% here in the early going. FIO’s continuing its wild ways, up 10% on the day. And Google’s kicking in again, making my Google calls rise even faster. Apple’s trying to test its all-time highs, now just a couple percent away. Steady as she goes on our longs.

BK and LPS are both popping about 3% here in the early action. I’m not tempted to add to either one for now, though LPS near $16 looks like it could be a good entrance point too. Meanwhile, I’m going to buy a few PNC puts today and I’m likely to add to my APOL puts today too. Let you know if and when and specifics at that point.

Much more analysis on BK and PNC coming up in a bit.