Week of Home Sale Reports

Key economic data for the forth week (last week) of January 2010 starting January 25th, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
01/25/10 10:00 AM	Existing Home Sales	Dec	5.90M	6.54M
01/26/10 9:00 AM	Case-Shiller 20-city Index	Nov	-5.00%	-7.28%
01/26/10 10:00 AM	Consumer Confidence	Jan	53.5	53.3
01/26/10 10:00 AM	FHFA Home Price Index	Nov	0.1%	0.6%
01/27/10 2:15 PM	FOMC Rate Decision	1/27	0.25%	0.25%
01/27/10 10:00 AM	New Home Sales	Dec	370K	355K
01/27/10 10:30 AM	Crude Inventories	1/22	NA	-0.471M
01/28/10 8:30 AM	Initial Claims	01/23	450K	482K
01/28/10 8:30 AM	Continuing Claims	01/16	4600K	4599K
01/28/10 8:30 AM	Durable Orders	Dec	2.0%	0.2%
01/29/10 8:30 AM	GDP-Adv.	Q4	4.6%	2.2%
01/29/10 8:30 AM	Chain Deflator-Adv.	Q4	1.3%	0.4%
01/29/10 8:30 AM	Employment Cost Index	Q4	0.4%	0.4%
01/29/10 9:45 AM	Chicago PMI	Jan	57.4	58.7
01/29/10 9:55 AM	University of Michigan Sentiment	Jan	73.0	72.8

Housing Starts

Housing starts is the number tracked and reported by United States Census
Bureau which reflect privately owned new houses (technically housing units) on
which construction has been started in a given period. The Housing Starts data
is divided into three types:

• Single-family houses;
• Townhouses or small condos;
• Apartment buildings with five or more units.

In case of the apartments each unit is considered a single start.
Furthermore, the construction of a 60-unit apartment building is counted as 60
housing starts.

Home Buildings and Sales

Key economic data for the third week of January 2010 starting January 19th, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
01/19/10 9:00 AM	Net Long-Term TIC Flows	Nov	$27.5B	$20.7B
01/20/10 8:30 AM	Building Permits	Dec	580K	584K
01/20/10 8:30 AM	Core PPI	Dec	0.1%	0.5%
01/20/10 8:30 AM	Housing Starts	Dec	575K	574K
01/20/10 8:30 AM	PPI	Dec	0.0%	1.8%
01/21/10 8:30 AM	Initial Claims	01/16	440K	444K
01/21/10 8:30 AM	Continuing Claims	1/09	4600K	4596K
01/21/10 10:00 AM	Leading Indicators	Dec	0.7%	0.9%
01/21/10 10:00 AM	Philadelphia Fed	Jan	18.8	20.4
01/21/10 11:00 AM	Crude Inventories	1/15	NA	3.70M

Straddle Trading

One of the ways of using economic reports, financial news and earning releases is using them in straddle trading. Straddle trading is an options trading strategy that involves simultaneous buying put and call options with the same strike price - the most common way is to use ATM (at-the-money) options.

Straddle trading provides a unique opportunity to profit from options trading no matter where the market goes. However, in order a straddle to be profitable, an underlying stock has to make big move.

As a rule earning release, FED announcements and other scheduled financial and economic reports could be used to expect such big moves and increased volatility. Right after the economic releases you may see sudden increase in volatility and as result, there a possibility that if a stock makes a strong move up the call options will gain in value more than the put options lose in their value. Respectfully, following economic news release, the strong down move may result in the put options gain would out-beating the call options loss.

Export an Import

Key economic data for the Second week of January 2010 starting January 11th, 2010. This week is options expiration week. January 2010 options will expire on Friday, January 15, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
01/12/10 8:30 AM	Trade Balance	Nov	-$34.5B	-$32.9B
01/13/10 2:00 PM	Treasury Budget	Dec	-$92.0B	-$120.3B
01/13/10 2:00 PM	Fed's Beige Book
01/13/10 10:30 AM	Crude Inventories	1/08	NA	1.33M
01/14/10 8:30 AM	Initial Claims	01/09	433K	434K
01/14/10 8:30 AM	Continuing Claims	1/2	4800K	4802K
01/14/10 8:30 AM	Retail Sales	Dec	0.5%	1.3%
01/14/10 8:30 AM	Retail Sales ex-auto	Dec	0.3%	1.2%
01/14/10 8:30 AM	Export Prices ex-ag.	Dec	NA	0.7%
01/14/10 8:30 AM	Import Prices ex-oil	Dec	NA	0.4%
01/14/10 10:00 AM	Business Inventories	Nov	0.2%	0.2%
01/15/10 8:30 AM	Core CPI	Dec	0.1%	0.0%
01/15/10 8:30 AM	CPI	Dec	0.2%	0.4%
01/15/10 8:30 AM	Empire Manufacturing Survey	Jan	11.25	2.55
01/15/10 9:15 AM	Capacity Utilization	Dec	71.8%	71.3%
01/15/10 9:15 AM	Industrial Production	Dec	0.6%	0.8%
01/15/10 9:55 AM	Mich Sentiment	Jan	73.8	72.5

Employment and Uneployment

Key economic data for the First week of January 2010 starting January 4th, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
01/04/10 10:00 AM	Construction Spending	Nov	-0.5%	0.0%
01/04/10 10:00 AM	ISM Index	Dec	54.0	53.6
01/05/10 2:00 PM	Auto Sales	Dec	NA	3.8M
01/05/10 2:00 PM	Truck Sales	Dec	NA	4.6M
01/05/10 10:00 AM	Factory Orders	Nov	0.5%	0.6%
01/05/10 10:00 AM	Pending Home Sales	Nov	-3.0%	3.7%
01/06/10 7:30 AM	Challenger Job Cuts	Dec	NA	-72.3%
01/06/10 8:15 AM	ADP Employment Report	Dec	-75K	-169K
01/06/10 10:00 AM	ISM Services	Dec	50.5	48.7
01/06/10 10:30 AM	Crude Inventories	12/31	NA	-1.54M
01/07/10 8:30 AM	Initial Claims	01/02	445K	432K
01/07/10 8:30 AM	Continuing Claims	12/26	5040K	4981K
01/08/10 3:00 PM	Consumer Credit	Nov	-$5.0B	-$3.5B
01/08/10 8:30 AM	Average Workweek	Dec	33.2	33.2
01/08/10 8:30 AM	Hourly Earnings	Dec	0.2%	0.1%
01/08/10 8:30 AM	Nonfarm Payrolls	Dec	0K	-11K
01/08/10 8:30 AM	Unemployment Rate	Dec	10.1%	10.0%
01/08/10 10:00 AM	Wholesale Inventories	Nov	-0.3%	0.3%

Last week of 2009

Key economic data for the last week of December 2009 starting December 28th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
12/29/09 9:00 AM	CaseShiller 20 City	Oct	-7.30%	-9.36%
12/29/09 10:00 AM	Consumer Confidence	Dec	53.0	49.5
12/30/09 9:45 AM	Chicago PMI	Dec	55.1	56.1
12/30/09 10:30 AM	Crude Inventories	12/25	NA	-4.84M
12/31/09 8:30 AM	Initial Claims	12/26	465K	452K
12/31/09 8:30 AM	Continuing Claims	12/19	NA	5076K

GDP and Housing

Key economic data for the Forth week of December 2009 starting December 21th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
12/22/09 8:30 AM	GDP - Third Estimate	Q3	2.8%	2.8%
12/22/09 8:30 AM	GDP Prices - Third Estimate	Q3	0.5%	0.5%
12/22/09 10:00 AM	Existing Home Sales	Nov	6.25M	6.10M
12/23/09 8:30 AM	Personal Income	Nov	0.5%	0.2%
12/23/09 8:30 AM	Personal Spending	Nov	0.7%	0.7%
12/23/09 8:30 AM	PCE Prices	Nov	1.6%	0.2%
12/23/09 8:30 AM	PCE Prices - Core	Nov	0.1%	0.2%
12/23/09 9:55 AM	Mich Sentiment-Rev	Dec	73.7	73.4
12/23/09 10:00 AM	New Home Sales	Nov	439K	430K
12/23/09 10:30 AM	Crude Inventories	12/18	NA	-3.69M
12/24/09 8:30 AM	Initial Claims	12/19	470K	480K
12/24/09 8:30 AM	Continuing Claims	12/12	5175K	5186K
12/24/09 8:30 AM	Durable Goods Orders	Nov	0.5%	-0.6%
12/24/09 8:30 AM	Durable Goods Orders ex Auto	Nov	1.0%	-1.3%

PPI and CPI

Key economic data for the Third week of December 2009 starting December 14th, 2009. Next Friday is "Triple Witching Day" - on that day December's options, index options and futures will expire.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
12/15/09 8:30 AM	Core PPI	Nov	0.2%	-0.6%
12/15/09 8:30 AM	PPI	Nov	0.8%	0.3%
12/15/09 8:30 AM	Empire Manufacturing	Dec	24.00	23.51
12/15/09 9:00 AM	Net Long-term TIC Flows	Oct	$42.3B	$40.7B
12/15/09 9:15 AM	Capacity Utilization	Nov	71.1%	70.7%
12/15/09 9:15 AM	Industrial Production	Nov	0.5%	0.1%
12/16/09 2:15 PM	FOMC Rate Decision	Dec 16	0.25%	0.25%
12/16/09 8:30 AM	Building Permits	Nov	570K	552K
12/16/09 8:30 AM	Housing Starts	Nov	578K	529K
12/16/09 8:30 AM	CPI	Nov	0.4%	0.2%
12/16/09 8:30 AM	Core CPI	Nov	0.1%	0.3%
12/16/09 10:30 AM	Crude Inventories	12/11	NA	-3.82M
12/17/09 8:30 AM	Initial Claims	12/12	465K	474K
12/17/09 8:30 AM	Continuing Claims	12/5	5170K	5157K
12/17/09 10:00 AM	Leading Indicators	Nov	0.7%	0.3%
12/17/09 10:00 AM	Philadelphia Fed	Dec	16.0	16.7

Treasury Budget and Retail Sales

Key economic data for the Second week of December 2009 starting August 17th, 2009.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
12/07/09 2:00 PM	Consumer Credit	Oct	-$9.3B	-$14.8B
12/09/09 10:00 AM	Wholesale Inventories	Oct	-0.6%	-0.9%
12/09/09 10:30 AM	Crude Inventories	12/04	NA	2.09M
12/10/09 2:00 PM	Treasury Budget	Nov	-$135.0B	-$176.4B
12/10/09 8:30 AM	Initial Claims	12/05	NA	NA
12/10/09 8:30 AM	Continuing Claims	12/04	NA	NA
12/10/09 8:30 AM	Trade Balance	Oct	-$37.1B	-$36.5B
12/11/09 8:30 AM	Export Prices ex-ag.	Nov	NA	0.3%
12/11/09 8:30 AM	Import Prices ex-oil	Nov	NA	0.4%
12/11/09 8:30 AM	Retail Sales	Nov	0.5%	1.4%
12/11/09 8:30 AM	Retail Sales ex-auto	Nov	0.5%	0.2%
12/11/09 9:55 AM	Mich Sentiment-Prel	Dec	68.5	67.4
12/11/09 10:00 AM	Business Inventories	Oct	-0.2%	-0.4%