Schaeffer's Trading Floor Blog

Stocks to Watch Friday: DISH Network Corp, SanDisk Corporation, and Applied Materials, Inc.

Analyzing DISH, SNDK, and AMAT ahead of tomorrow's trading

by 2/13/2014 5:01 PM
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Momentum names that made notable moves on Thursday and could continue to do so into Friday's session include pay-TV provider DISH Network Corp (NASDAQ:DISH), data storage concern SanDisk Corporation (NASDAQ:SNDK), and semiconductor specialist Applied Materials, Inc. (NASDAQ:AMAT). Here is a quick look at these stocks ahead of tomorrow's opening bell.


DISH Network shot to a 13-year high of $58.87 this afternoon, as Wall Street continued to chatter about the merger of sector peers Time Warner Cable Inc (NYSE:TWC) and Comcast Corporation (NASDAQ:CMCSA). However, by the end of the session, the equity had scaled back its gains to 1.4% to close at $58.32. Meanwhile, over the past 10 trading days, bulls have dominated DISH's options pits at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), buying to open about 30 calls for every put. The resulting call/put volume ratio of 29.96 is just 2 percentage points shy of a 12-month peak, meaning the recent preference for long calls over long puts is nearing annual-high levels.

SanDisk Corporation (NASDAQ:SNDK)

SanDisk ran to an eight-year high of $75.00 today, before finishing the session with a 3.2% lead at $74.40. As such, the stock has ticked higher in seven of the last eight sessions, with the shares up roughly 9% from their Feb. 4 closing price of $68.24. Not surprisingly then, calls were the options of choice today. By the end of the session, about 14,000 of these contracts crossed, which is almost triple the number of puts exchanged. A number of traders zeroed in on the soon-to-expire weekly 2/14 call series, as these options accounted for five of the 10 most active strikes.

Applied Materials, Inc. (NASDAQ:AMAT)

Applied Materials' upbeat fiscal first-quarter earnings report and current-quarter sales guidance sent the shares soaring to a five-year high of $19.00 today. At the market's close, the stock maintained a 5.4% lead at $18.87, bringing its five-day gain to 10.7%. Meanwhile, in the options pits, traders' pre-earnings preference for calls extended into today's session, as call volume surged to six times the average daily amount, accounting for roughly 93% of AMAT's total volume. Not to mention, these contracts outnumbered puts by a margin of nearly 14-to-1.

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