Schaeffer's Trading Floor Blog
Stocks quoted in this article:

The Dow -- which is down nearly 99 points, or 0.6% -- is flirting with its first weekly loss in five weeks, with 21 out of 30 of the index's blue chips trending in the red. Meanwhile, among the equities in focus are Internet radio issue Sirius XM Radio Inc (NASDAQ:SIRI), alternate energy concern First Solar, Inc. (NASDAQ:FSLR), and precious metals miner Goldcorp Inc. (USA)(NYSE:GG).

  • After reporting revenue above analysts' expectations yesterday, SIRI saw its price target hiked to $4 from $3.50 at Wunderlich in pre-market. Technically speaking, SIRI has climbed 78.6% in the past year. What's more, the stock touched a new five-year high of $3.81 earlier today, before slouching to its current perch at $3.76. In the options pits, more than four SIRI calls have been picked up for every put among options expiring in three months or less, according to the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.23. This ratio ranks just 2 percentage points above the annual nadir, indicating Sirius XM Radio Inc's short-term speculators have rarely been this call-heavy throughout the last year.

  • On the charts, FSLR has had one momentous year, skyrocketing 237% to trade at $47.06. Still, Credit Suisse joined the majority of the brokerage bunch this morning, initiating a "neutral" rating for the stock. Elsewhere, FSLR boasts 12 "holds" and three "sell" or worse suggestions, compared to three "strong buy" endorsements. Likewise, the stock's consensus price target sits at $41.98, territory FSLR hasn't stooped to since late June. With that being said, a potential round of upgrades and/or price-target hikes may be in store, which could propel First Solar, Inc. further north.

  • Though GG's earnings were lower than analysts were expecting, the company saw its price target raised to $31.50 from $27 at UBS. Year-to-date, GG has shaved off almost 23% to trade at $28.32. Still, the stock has been in rebound mode as of late, tacking on 27.5% since bottoming at its four-year low of $22.22 on June 26. As a result, speculators at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open more than three GG calls for every put during the past two weeks. The resultant 10-day call/put volume ratio of 3.36 ranks in the 67th percentile of its annual range, conveying Goldcorp Inc. calls are being snatched up over puts at a faster-than-usual pace.

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