Bullish options traders bet on big payout when Visa reports earnings

NY Gov. Andrew Cuomo Invites MLB Teams To New York Stadiums

New York Governor Andrew Cuomo invited Major League baseball teams to play in New York stadium as the sport suffers some COVID-19 related setbacks.

“New York State could host any major league baseball game that any team wants to play,” he said at his daily briefing Tuesday. “New York state has one of the lowest infection rates in the U.S. New York State has a full Department of Health protocol system in place. I offer to the MLB, if you are having problems playing in other states, come play here. We will set up a health protocol.”

Bringing back baseball, even without fans, would be good for the New York economy and the morale of the state and the nation.

He said teams would have to agree to fly players to New York on private planes, have them quarantined at a designated hotel and tested for COVID-19 before playing.

Major League Baseball just postponed two games only four days after Opening Day, after at least eight Miami Marlins players test positive for COVID-19.

US National Security Adviser Tests Positive For Coronavirus

U.S. President’s National Security Adviser Robert O’Brien has been tested positive for the coronavirus.

The White House clarified that neither President Donald Trump nor Vice President Mike Pence are at risk of exposure to the disease.

“He has mild symptoms and has been self-isolating and working from a secure location off site. There is no risk of exposure to the President or the Vice President. The work of the National Security Council continues uninterrupted,” the White House said in a statement.

According to Bloomberg, which first reported the news, O’Brien has been on quarantine at home and working from there after apparently getting infected at a family event.

O’Brien is the highest-ranking official in the Trump administration to test positive for the deadly disease.

One of Trump’s personal valets and two White House employees tested positive for coronavirus in May.

Last week, two cafeterias in the White House were closed after a staff working there tested positive for Covid-19. In an email sent to the staff, White House said there was “no reason for panic or alarm.”

The White House Medical Unit is conducting contact tracing.

The White House has said its staff and those who come into close contact with the President and Vice President are subjected to laboratory test for the virus on a daily basis.

Belarus president says he had asymptomatic coronavirus

Belarusian President Alexander Lukashenko said on Tuesday he had had the coronavirus without any symptoms and had already recovered from it, the BELTA news agency quoted him as saying.

"Today you are meeting a man who managed to survive the coronavirus on his feet. Doctors came to such a conclusion yesterday. Asymptomatic," Lukashenko said during a meeting with the military.

The 65-year-old leader has resisted calls to impose lockdown measures or close the borders to contain the spread of the coronavirus pandemic in the eastern European country.

He has previously dismissed fears about the pandemic as a "psychosis" and suggested remedies such as drinking vodka or taking saunas to battle the coronavirus.

As of Tuesday, 67,366 cases of coronavirus were registered in Belarus, a country of 9.5 million people, with 543 deaths, according to the health ministry.

Frustration over his handling of the pandemic has fuelled opposition protests against Lukashenko ahead of an election on August 9.

Hostess Brands Recalls Certain Hostess Raspberry Zingers

Lenexa, Kansas-based Hostess Brands, LLC is recalling certain Hostess Raspberry Zingers citing the potential to develop mold prior to the best by date, the U.S. Food and Drug Administration said in a statement.

The recall involves Hostess Raspberry Zingers Multi-Pack fresh, Multi-Pack frozen, Single-Serve fresh, Single-Serve frozen, as well as Single-Serve grocery 3 count products. They have best by date ranging from August 26 to 29, 2020.

The recall does not affect any other Hostess Brands products.

The company, which operates bakeries in various states, sold the affected products to mass merchandisers, grocery stores, distributors, dollar and discount stores, and convenience stores throughout the United States.

Consumers are urged to discontinue consumption and return the products for a full refund.

In similar recalls, Giant Eagle Inc. this week recalled Giant Eagle Dried Island Fruit Mix saying the product might contain undeclared Peanut, Almond, Milk and Soy allergens.

Flagstone Foods LLC last week called back certain Wegmans Pecan Blend Trail Mix citing the possible presence of undeclared almonds and walnuts.

Bullish options traders bet on big payout when Visa reports earnings

The busiest week of earnings season rolls on when Visa reports after the bell Tuesday, and options traders are betting on a big payoff when the payment giant's results cross the wire. 

The Dow component's shares are up nearly 6% on the year thanks to a 35% bounce off the March lows, paving the way for what traders believe will be an earnings report that surprises to the upside.

"We saw calls out-trade puts by [a ratio of] about 3-to-1 today on above average volume, and right now, the options market is implying a move of about $6 higher or lower, 3% of the stock price," Optimize Advisors CIO Michael Khouw said Monday on "Fast Money."

That 3% move would be right in line with Visa's average post-earnings action over the last eight quarters, but a 3% jump from here would put the stock within striking distance of its all-time highs from earlier this year.

"The weekly options that saw the most opening activity were the 197.5-strike calls," said Khouw. "Buyers of those were paying about $2.70 a contract. A lot of this was retail traders, it would seem, because the average trade size was about 4 contracts."

Those contracts break even at an underlying stock price of about $200.20, which is only about 1.5% higher than where Visa closed Monday's session, about half of the stock's implied move.

Visa was trading slightly higher in Tuesday's session.