Option Skews - Relatively Heavy Call Activity on DryShips Inc, Cisco Systems Inc, QLogic Corp, Seagate Technology

Here are the stocks that saw a bias toward call activity in the previous session. This filtered scan is based on the International Securities Exchange (ISE) buy-to-open data. It looks for stocks where the previous day's call volume on the ISE is at least twice as great as the put volume. It then sorts the stocks based on the call volume. Since this is buy-to-open data, this can be a good source for finding stocks where optimism is emerging. Of particular interest to me would be situations where we see call activity on stocks that are still in intermediate-term downtrends. This would be a potentially cautionary sign from the contrarian perspective.

Companies included in today's scan results: Citigroup Inc (C), Brocade Communications Systems (BRCD), General Electric (GE), DryShips Inc. (DRYS), Advanced Micro Devices Inc (AMD), Intel Corp. (INTC), CVS Corp. (CVS), JDS Uniphase (JDSU), Cisco Systems Inc (CSCO), QLogic Corp. (QLGC), MetroPCS Communications, Inc. (PCS), Palm Inc (PALM), Seagate Technology (STX), Pulte Homes (PHM), Las Vegas Sands Corp (LVS), Goldcorp Incorporated (GG), Priceline.com Inc (PCLN), Merck (MRK), E-Trade Financial Corp (ETFC), Home Depot (HD), Wynn Resorts Limited (WYNN), Elan, plc (ELN), Alcoa (AA), Comcast Corp. (CMCSK), Sprint Nextel (S).

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