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Options Update: Apple Computer and the WWDC

Options Trading Heavily on Apple Computer (AAPL) as the Worldwide Developers Conference Shows New Mac Features

by 8/8/2006 1:46:20 PM
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A daily feature available on SchaeffersResearch.com is "Options Update." Every day, we'll give a brief market overview and focus on one stock that is the center of some heavy option trading. The focus of today's feature is Apple Computer.

Second-quarter productivity of the U.S. non-farm business sector rose at a 1.1 percent annual rate. Unit labor costs, a key gauge of inflationary pressures, rose 4.2 percent annualized, marking the largest increase since the fourth quarter of 2004. Both measures were above expectations. Economists had forecast a 0.9-percent in productivity for the second quarter. They forecast unit labor costs to rise 3.5 percent. In the first quarter, productivity was revised to a 4.3-percent increase from 3.7 percent previously. First-quarter unit labor costs rose 2.5 percent rather than the 1.6-percent increase originally reported. On a year-on-year basis, productivity is up 2.4 percent. Unit labor costs were up 3.2 percent on a year-on-year basis, the fastest pace since the fourth quarter of 2000.

Most-Active Options Update

At 1:20 p.m. Eastern Time, the Dow Jones Industrial Average (DJIA – 11,239.3) has added 0.18 percent. The S&P 500 Index (SPX – 1,278.15) has gained 0.19 percent, and the Nasdaq Composite (COMP – 2,076.8) has advanced 0.21 percent. At 1:20 p.m. Eastern Time, 2,288,757 calls have changed hands compared to 1,414,744 puts, equaling a single-day put/call volume ratio of 0.61. The CBOE's equity put/call volume ratio stands at 0.71, while the ISE's ratio comes in at 0.71.

Apple Computer

As always, Steve Jobs' presentation yesterday at Apple Computer's (AAPL: View sentiment for AAPLsentiment, chart, options) Worldwide Developers Conference was masterful. The Phineas Taylor Barnum of Silicon Valley announced, amongst many other things, that the company's migration to Intel (INTC: View sentiment for INTCsentiment, chart, options)

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