Can’t decide which stock, currency, or commodity to play today? How about playing the exchange itself?
The Chicago Mercantile Exchange (CME – NASDAQ) is the world’s largest futures trading floor, offering contracts in almost any index, currency, and commodity in the world.
Average daily trading volume at CME Group during the third quarter was up 11% year-over-year.
The details were even stronger, with 29% growth in interest rate volume and 10% growth in metals volume.
Q3 revenue rose from $683.2 million to $714.6 million year-over-year, net profit rose from $218 million (or 66 cents a share) to $236.7 million (71 cents a share), and adjusted earnings were 75 cents a share when Thomson Reuters analysts only expected 73 cents.
Bottarelli Research Tip: CME is seeing modest profit-taking today, but that could be a very good thing for stock and option traders. CME is in a long, 3-year accelerating upside curve. Within that curve, it has hit the micro-cycle buy trigger six times, with average follow-on gains of 26.27%. A similar rally now would see the CME hit $90.83 over the next 16 weeks — more than enough to double your money on select calls. If you don’t want to leave money on the table that long, just aim for the recent high at $78.96.
– Bottarelli Research
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Source: Bottarelli Research
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