i want that to be long the february 43 call for 60 cents. hat point i'm targeting the earnings event in february i hope their 2018 guidance is what catalyzes this stock for a meaningful breakout off of this hold of this 42 level. >> mike, do you like the trade would you have chosen gm of those automakers >> yes it's interesting i mean in general, the thing about general motors, this company is incredibly cheap. it's trading a little over seven times earnings the stock price is approximately where it was at christmas of 2013 the company has made $35 billion since then and will sell 10 million cars in 2017 i like it as a valuation story people discount autos far too much the call calendar, i like that structure just for this season in particular, for the reasons dan outlined in general, because the stock is so cheap, i would rather just be long, longer dated calls here. because you might have some, you know, tax gains selling in january, the call calendar might actually make some sense here. >> carter? >> if one were to look at the general them

today when gm traded at $42 i bought the january, february 43 strike call calendar sold one of the january 60 cents. bought a february 43 call for $1.20. cost me 60 cents my max risk. what i want to do the next weeks, as the stock moves towards the 43 strike, expire worthless. be long. the february 43 call for 60 cents. at that point i'm targeting earnings event q4 earnings fall in february i hope the guidance catalyzes this stock for a meaningful breakout off the hold of the 42 4re678. >> mike, would you have traded >> the think about general motors, the company is incredibly cheap trading agents over seven times earnings stock price approximately where it was christmas of 2013, and the company's made $35 billion since then and going to sell 10 million cars in full year 2017 i like it as a valuation story i think people discounted autos far too much the call calendar, i like that structure just for this season in particular for the reason's stan outlined. in general, because the stock is so cheap, be long, longer dated calls here because you might have tax gains, selling in january, the c

i was looking at the february. you could buy the 152/162 call spreads, spend $3.80, sell the other ones for 50 cents. you're spending $3.30 to make that bet about 2% of i with" ms current level and obviously you get to play through the holiday season. if it turns out that we get some negative news, as you point out also the election next week i think could play into that quite heavily. >> i think if you agree with carter's technical setup, that's a nice looking -- those are some good lines, it's very orderly. i think one of the things that's really important, you think about for most of 2017, that thing was consolidating, then you get the breakout, the check back then you throw in seasonality. i like the trade, it's a little less than 30% of the width you're paying. so about 2%, right that's a good risk/reward to play a lot of people think if we get this tax and get into the new year and everything's going okay, you may just have a melt-up early in the new year. that being said, if it doesn't go that way, you're ris

that the would elapse on february 9. we've become aware that that 30 days, however, could be waived, by the board president, so that would in essence, if the board president was to accept that request, that the 30 days be waived, it would give them time to consider -- the board time to consider the legislation for a longer period. so i think i will allow you to discuss that as we go along here, but i will move on to the next couple. skipping the form 700 nonvoting order innocence as it is pending committee action, i will move to ethics training. the ethics and censuring training was voted unanimously to go forward at your october meeting. the board of supervisors has 60 days to accept or reject the proposed regulations. the last day for the board to act is september 23. our i.t. compliance staff has been working to update the forms required of the ethics and se censuring training to make sure they're in one document. and then to proposition t, as you may recall, those are two ordinances that go into operative effect on ja

i'm taking a look at this level from whence it moved when i take a look at the february 265, 285, 305, call spread risk reversal i would the 285, sell the 2005, sell the puts against it, costs you $3.30. you are going to have some modest losses in here. the premium that you spipt but basically the real risk is you put the stock down at 265, you get to participate if it takes a $20 rally. >> what would be your biggest concern about bowing at this point? >> first of all, obviously the valuation is one of the things -- one of the other things we have heard a little bit of concern about, where boeing is concerned, is 777, one of their more expensive aircraft, heavily mideast dependant. single-aisle aircraft sales, five-year backlog, that looks promising to me. >> dan what do you think of the structure of the trade and would you like to be involved? >> interesting trade structure, mike goes to the plaza, talks about put selling as a way to put premium against names you're bullish on here he's going the opposite way, willing to sell a downside put to help finance upside playing for a 5%, 7%

the international olympic committee has ta ken february. ional olympic committee has taken action after the findings of its own investigation revealed the extent of state—sponsored systematic doping of russian athletes. the report clearly lays out an unprecedented attack on the integrity of the olympic games and sport. the report includes in particular the manipulation of the anti—doping laboratory at the 0lympic winter games in sochi 201a. the ioc executive board, after following due process, has issued proportional sanctions for this systemic manipulation while protecting clean athletes. let's get more on this from our sports correspondent alex capstick, who was at today's news conference in lausanne. this was an unprecedented decision. never has a country been banned from the olympics because of doping violations. this is an 0lympic superpower, a heavyweight of the movement. and they won't be at the movement. and they won't be at the olympic games, because the ioc decided there had been state—sponsored doping. it all boiled down in the en

i'm selling the january to buy the february because january options will not catch their q4 earnings on january 25th feb will i like this a calendar for the way to get long. >> mike, quickly, what do you think of the trade do you like it >> first of all, i definitely like calendars when you think a stock is going to move in a direction, do what dan has done and choose a strike where you think the stock is going to go. that's the idea. i think this is a good trade. >> quickly, carter, how did the stocks look? >> did you see the charts? it's amazing great lines. breakout's real. gap is real. check back is real let it rip. >> uconn kuyou conquercer. >> near term could it come back to that? could it build that gap? that's why i'm trying to finance the longer dated calls i like calendars we're going into the holiday period where things should settle down. that's why i'm selling january 47 that's the prior resistance it could come up there and stay there. that's what i wanted to do is inch forward. >> time for the final call last word from the options pit mike, out to you first. >> financia

i'm selling the january to buy the february because january options will not catch their q4 earnings on january 25th but feb will, i think feb will be the catalyst, earnings will be the catalyst you want to own it >> mike, what do you think of the trade? >> first of all, i definitely like calendars the other thing is when you think a stock is going to move in a direction, do what dan has done and choose a strike where you think the stock is going to go this one is a good trade >> carter -- >> did you see those nifty charts it's amazing those are great lines. the breakout is real, the gap is real let her rip. >> you concur? >> fundamentally, if you think about what's going on, the first half of the year, has been a drawdown of inventories. inventory build will help this cycle. stay long. >> if there's one caveat, what would it be? >> could it fill that gap. that's why i'm trying to finance the longer dated calls i like calendars in a period like that, we'll go into this holiday period which things should settle down a little. 47 is that prior resistance. it could come up there and stay

one other note on the budget for the january meeting and now on to february, we would be preparing to submit at the end of february, the mayor's office in early december gave us two targets, asking all departments to cut 2.5% in fy, '19 and fy, '20. because we're 90% salaries, we have very little overhead it. would require us to lose positions, in my view, we're ramping up. we need to make sure that the people are in their seats, doing the work, paid to do the work and have the tools to do the work. that will be our budget request that we bring forward to you in january. i'm hopeful with the continued support with the leadership from the board that has embraced this, we'll show that we're a good investment for the work and resources that the city has been given us. as we approach the end of the calendar year, i want to convey deep thanks to our staff, who have been working hard to try to support your process and public information. we have some folks here around this table in the room with us, but i wanted to take a note to say how much we have a terrific team and we're very, very ple

i'm selling the january to buy the february, because january options will not catch their q4 earnings on january 25th, but feb will i think it will be the catalyst. earnings will be the catalyst. you want to own them i like this call calendar as a way to get long intel in the new year >> mike, quickly, what do you think of the trade >> first of all, i definitely like calendars the other thing is, when you think a stock is going to move in a direction, do what dan has done and choose a strike where you think the stock is going to go this is a good trade >> carter, how did the charts work >> did you see those charts? >> i mean, i don't know. >> those are great lines the breakout's real. let it rip >> you country cur you lisle intel. >> fundamentally, if you think about what's going on, the last 18 months has been a draw down of inventories, inventory build will help this cycle, it's a longer cycle for these guys. stay long semis. >> if there's one copy out about this trade, what would it be >> near term, could it fill that gap? that's why i'm trying to finance the longer date calls and

inwithholding the change february, do you believe there is a need for republicans to go out and sell this build -- this bill? >> absolutely. if we can't solve this to the american people, we ought to go in another line of work. this is an important competition for the country. forhis is an important item the country. do you feel like you were in , that you were going to take this out to the public and show them, but it took a long time? many years later, after democrats lost an election -- >> it would be easier to sell if you have more money into your pocket that the government is now running health care. we believe this is something that american people will respond to positively. surprised the democrats all decided voting against middle-class tax relief and making american businesses more competitive -- it was a smart vote. i will take one more question. the politics of taxing long-term for individuals will catch up to you guys? >> you are using a democratic talking point. we believe this product will do extremely important things, provide middle-class tax relief, and provide busine

lavco is entitled to is approximately $300,000 and if there's a request it should be reflected in the february or the june budget and we're modernizing the policy and we're in the process of updating it to include meals for official business consistent with the controller's city policy to cover trainers for office retreats and strategic planning. there is no budgetary impact for these proposed changes and i'm just being transparent with those changes for the public. and a new issue that will also not have a budgetary impact is that the assessment appeals board members are reviewing their stipend based upon a survey of other jurisdictions and they may propose a slight increase to the board which i will move via an ordinance through the board come the new year. and as mentioned earlier by june or -- if not earlier and we'll have the next phase funding request for the constituent management project in the l.m.s. and at this point if these items are agreeable to you i will come back in february with the proposed budget and i'm available for your questions or that concludes our presentation. thank

this comes all after the february death of 19-year-old fraternity pledge timothy piaz piazza. x 29's jeff cole live from studios with this story. jeff row. >> reporter: chris, penn state offers an aggressive response tonight to the grand jury report but it's likely unlikely to beat back the sting of this document that the school simply did not control its animal house like frats. the grand jury report is thick with detail but the message is clear. penn state dropped the ball when it came to governing its fraternities it's oversight so weak it let red to aiding, violations of alcohol policy and finally the loss of life. >> reporter: the sent county da called for the grand jury probe after the death in february of penn state sophomore timothy piazza of lebanon, new jersey. prosecutors 11 piazza was forced to drink heavily while pledgin the now banned beta theta pi fraternity drunk he fell downstairs shake striking his head but frat brothers wait 12 hours to call for help. philadelphia attorney tom kline represents the piazza family. >> in this case, alcohol consumption and hazing

if we continue to the february meeting, the fees continue to accrue, correct? and the order of abatement stays in its current state by the continuan continuance? >> it's continuing. >> and we could, at that february meeting, if we do that, we could -- >> right, we could just uphold the order of abatement. whatever the fees are, say, sorry, you had your window. we're starting with staff and department. >> you could do that, yes. >> commissioners, do we want to postpone this until our february meeting? >> i move to continue this until our february meeting. >> second. >> there's a motion by commissioner walk tore continue the item to february meeting and commissioner constin seconds it. vice president gillman. >> yes. >> commissioner lee? >> before i vote, i do make the comment that i hope that the appellant understands that we're extending you 60 days but sort of informally. you asked for 60. we're going to give it to you. and please do the right thing within those 60 days, even though we're not vote on the issue. all right. my vote is yes. >> commissioner mccart

as always, the film year began with the oscars circus which back in february became the scene of onee most astonishing debacles in awards history as la la land, which had already picked up gongs for best director, best cinematographer, best music, best original song, best production design, and best actress, for emma stone, was announced as the winner of the best picture award, only for that to be revealed as a mistake. i'm sorry, no, there's been a mistake. moonlight, you guys won best picture. in fact, the award went to moonlight. director barryjenkins‘s minor key masterpiece which also won best adapted screenplay and best supporting actor for mahershala ali. among the night's big hitters, manchester by the sea picked up the award for best original screenplay and best actor for casey affleck. meanwhile, viola davis won the supporting actress award for her role in the fences. an adaptation of august wilson's stage play directed by leading man, denzel washington. i gave 18 years of my life to stand in the same spot as you! as always, some of the most interesting movies competing on o

the uniforms make their debut on the february 2nd home game against the miami heat.aring for saturday's fiesta bowl. penn state has fond memories of the fiesta bowl, a 6-0 record there. that's not on the player's minds. >> we know the history, but you can't let that motivate you because you take yourself out of the game plan and out of the moment. >> penn state washington and fiesta bowl saturday. >> thank you ducis. there will be some of philadelphia in the rose bowl parade in california. the marching band left for pasadena today. they have performed on five continents and disneyland. next week they'll march with bands around the country australia japan, canada and panama. "jimmy kimmel live" is next followed byews" continues at 4:30 morning. now for ducis, adam cecily, jim, the entire "action news" team i'm monica malpass. you have a good night tonight. ♪ ♪

if the president now says he knew michael flynn lied to the fbi when he fired flynn on february 13, then why did the president ask then fbi director james comey to let the investigation go the very next day? in his opening statement to the senate intelligence committee, comey wrote that on february 14, president trump asked him to drop the fbi investigation into flynn, saying, quote, i hope you can see your way clear to letting this go, to letting flynn go. the he is a good guy. i hope you can let this go. of course the big question now, did the president of the united states just admit to obstructing justice. for more on these developments now, let's bring back cnn's kara skin nel and boris sanchez. let's begin with you, boris in new york where the president is. what more are you learning? >> reporter: hey, there. yeah, that tweet was sent out shortly after a fund-raising lunch. the only public event the president is holding today in his stop in new york. he didn't really mention michael flynn during his speech, so it was a bit surprising to see that tweet come out shortly after he left

edition their lettering is i spired by the declaration of independence and make their debut against the february 2nd home game against the miami heat. >>> adam joseph has the forecast coming up. >>> all right i don't know if you will like it or not like it. but we are stuck with it. the heart of it comes in if you years day and we have at least another 190 hours below freezing. >> okay thanks for that. >> lets go to the weather center and it's not stopping folks in center city from venturing out and checking out dillworth park and the ice rink on sky 6 hd at city hall. they are enjoying their evening despite it's cold. if you bundle up get out and enjoy it for an hour or two. and find some hot tea or hot cocoa or hot toddy whatever is your liking. the winds is really the problem here as we move forward. because it brings the windchills down. 9 miles per hour allentown reading and 13 miles per hour philadelphia in millville. and doesn't sound all that strong and only a little breath in the atmosphere to start to pull down the numbers when they are this low. so right now 8 in allentown and 7 in ph

i said no, companies will get the new withholding tables by the first of february. and so, the first check that february -- will have to pay their taxes. they will see a benefit in february. i have been overjoyed with calls from small businesses and international businesses and i've already heard from companies moving their business back to the united states and build a couple more manufacturing plant here. one of them was talking about 1000 more in alloys, but i have heard from small businesses, too. one said this is going to be the biggest investment ever made. we are going to put $15 million into new plants. i think we will hear a lot of examples of that. every new plant needs new employees to do it. that increases competition among workers and therefore raises wagers. we will see more jobs in the united dates, which is exactly what we set out to do in this bill. whichthe united states, is exactly what we set out to do in this bill. i'm glad we were able to get to the final stage and do it. [applause] >> i have told this story a couple of times before, but a while

the question is, before february of 2015, what worked? how did this ecosystem work to allow those entrepreneurs to do all that? >> didn't use as much bandwidth. everything we do use the internet band width, coming over the years. >> before 2015 as well. you have the federal trade commission act, for instance. the clayton act and sherman act. three very powerful federal statutes that kept the internet open and free prior to february 2015. to hear people talk today you'd think the internet started in february 2015 with title 2. that's not the case. what title 2 has done in the wireless phase, anyway, reduced investment in the fast years by 18%. not a figure for debate and this is a crucial time for wireless making the transition to the fifth generation or 5g technologies which would be faster than cable service provides today at a gig per second. that's going to be slube absolu fantastic for consumers. we need to build out the networks and every independent wall street analyst said the title 2, possible rate regulation and 1,000 or so requir

. >> reporter: president trump turned his ire towards the february fib, after he was disclosed a top t was removed from the special counsel investigation last summer, because of anti-trump text messages sent during the 2016 campaign. >> well it's a shame what's happened with the fbi, but we're going to rebuild the february fib. it will be bigger and better than ever. >> reporter: that criticism came as the president headed to the fbi academy at quantico for a law enforcement graduation ceremony where the president ripped in campaign style you have see this, there's the fake news back there, look. fake news. no actually some of them are fine people. >> reporter: while prize i praising local law enforcement, the president decried urban violence. >> what the hell is going on in chicago? what the hell is happening there? >> reporter: and back to the tax bill, there will be a pr battle between democrats and republicans over the next days and many months, perhaps, over who benefits most, how americans should view it, early polling has been negative about the bill and now specific details wi

the travel ban. fast-forward to february. he 13th of february flynn resigned after admitting m misleading vice president pence. well now, flynn's bombshell guilty plea would seem to have thrown the white house into turmoil by the president said he is not worried. no collusion, he says. so still unanswered, what was michael flynn trying to hide. with mueller's probe as close as it has ever been to the oval office prominent russian politicians are paying attention calling the investigation quote hype. in h the case against mieblle flynn quote empty. cnn's matthew chance joining us from moscow, what else are you hearing there in terms of reaction? >> reporter: well, there's been something of an official silence when it comes to response to these dramatic developments unfolding in the united states. we've ask the kremlin to see whether they can give us their comments on what's been taking place and we've had no response from them. the russian foreign ministry has done nothing except say we don't see what this has got to do with us

other stories are tracking fear now and had bosseses chief operating officer will be leading the company in february. that'll he's advocate she stepping down off of the border. back his state to take over as chief executive once tom anders leaves in nineteen nineteen. and i was able to

so the first checks to come out in february, people are going to be able to see the reduction in the amount of withholding they had to do to pay their taxes. they will see a benefit come february. i've been overjoyed with calls this morning from small businesses and some international businesses. i worked on the international tax piece. and i've already heard from some companies that are going to move their business back to the united states, build a couple more manufacturing plants here. one of them was talking about a thousand more employees. but i've heard from small business too, one who said this is going to be the biggest investment we ever made. we're going to put 15 million -- that's a big number to a small business. 15 million into new plants. i think we're going to hear a lot of examples of that. of course, every new plant needs employees to do it. employees increase the competition among workers. increased competition among workers raises wages. we're going to see higher wages and more jobs in the united states, which is exactly what we set out to do in this bill. i'm glad

the working visit, as i understand joe said correctly, i understand it is at the end of february. it i think will now be in 2019. in 2019, she may well not be prime minister any longer. i don't know what the protocol is on this. from maybe impeached by then as well. let's have a look at star wars, the premiere of the latest film. are you a star wars fan?|j wars, the premiere of the latest film. are you a star wars fan? i am, yes, film. are you a star wars fan? i am, yes , ever film. are you a star wars fan? i am, yes, ever since i was very, very young, it's been part of my upbringing. i've seen all of them, i had all of the toys when i was a kid, and! had all of the toys when i was a kid, and i massively excited about this. are you massively excited? i loved it when i was a little girl, i got my hair done as princess leia. but i'm looking forward to taking my little boy to see it, he is wildly excited. it was quite a big premiere. even got some royalty who we re premiere. even got some royalty who were there. the fact that it has made the front of most of the papers shows what a bi

when work is in the united states see their paychecks, the take-home money go up in february, i think there will be a huge change. >> when you were at your alma mater, american university with cnbc, john harwood, he said it is not our intention to give the wealthy a tax cut. what happened?>> we are happy to give everyone a tax cut. we really are. we want to stimulate the economy. we did not set out to give the wealthy a tax cut. if you go back to where we were and this is important to got here.d how we if you think of where we were one year ago today, one year ago today, we were in a a position where the house wanted to do adjustment tax, the senate had maybe two votes. the white house had their own plans. we had to over those many months, coalesce that group into a concise plan. we created the six of us that got to get up and we created an outline which had four major points. in one of the major points was middle income tax relief. we had to achieve middle income tax relief. there was a line for us in there. we never said that we were not willing to give tax relief to everyone people

21s, march 22s and they're doing this as spreads the one that we're highlighting is 10,000 of the february calls were bought. you can see these right here the 20s. this is part of a spread but they paid about 70 cents for this 10,000 times. there are spreads all over the place. 7500 in march, another 8500 in march. the other day we had 23,000 that were bought. this seems to be on a breakout going towards 20 in the very near future. i'm already in this trade because of all the unusual activity we've had so i'll be in this quite a while because i'll probably keep rolling out enough. >> thanks, guys. >>> coming up next, bitcoin's big move lower as south korea says it's considering closing some crypto currency exchanges we'll tell you more next on "halftime. >>> coming up on "power lunch" i forgot my second job here. houston rockets owner joins us for two hours. we'll talk taxes, sports and the consumer and much, much more and the prepaid debate should you be running to prepay your property taxes before the new tax law kicks in in the big year how boxed is fighting back against amazonnd a cost

the cycle has already begun. i don't know if we will get it in february. neil: the president just said he said that. he's not denying that. charles: but he's also going off reports too so we'll both use that report. neil: oh, okay. charles: but the bottom line is. neil: that's like saying the irs would target groups. charles: sure but i agree 100% with lauren. the rules of the economy are moving people are feeling better retail sales are up confidence is up and in part because people anticipate getting more in their paycheck or at least keeping more in their paycheck. neil: gasparino? >> i think what the president left out is some people get a massive tax increase and i think that's going to be a problem for the economy. let's be clear. neil: you talk about those who live in high tax states like you >> let's be real clear here neil poor people and working class people don't pay a lot of federal income tax. neil: quick side note they do watch the show. >> i want to remind you if they think they are going to get rich if donald trump was handing them a billion dollars from trump tower--neil: we'll have

a gop congressman took the allegations of bias and the february a step farther, claiming that the fbind justice department are, quote, off the rails and calling for a purge of the so-called deep state. >> i would like to see the directors ever those agencies purge it. saying we've got a lot of great agents, a lot of great lawyers here. those are the people we want to see the works being done not those people in a deep state. the. >> reporter: the congressman denied he was trying to discredit the investigation. meanwhile when it comes to headlights care, president trump is out with a bold pretrikz, following the appeal of an individual mandate with the tax bill saying democrats and republicans will come together and develop a great new health plan. with midterm elections a year ago way, some say that's doubtful. >> the entire constituency is basically sending a signal to their party leaders don't cooperate with the president. >> and the president has reached a milestone he now spent more than 100 days this year at one of his properties, roughly one-third of his property. >>> and russia