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by 1/23/2001 9:44 AM
Stocks quoted in this article:
With a press release and a few slaps on the back, E*Trade Group (EGRP - 12-5/16) announced that its will transfer its listing from the Nasdaq to the New York Stock Exchange (NYSE). EGRP has set no definite trading date, but the move is expected to occur next month, and the company will debut a new two-character ticker, "ET." The security has been listed on the Nasdaq since its initial public offering in 1996.

The shares were forced to seek out the mid-six level for support, but have since rallied some 80 percent and are face-to-face with their downtrending 20-week moving average. This trendline has guided the shares lower since late September. The disappearance of the January options series has taken a lot of overhead call pressure off the stock as peak February call open interest lies in the February 12-1/2 and 15 call options. Current open interest on these options is just 2,074 and 2,191, respectively. The impact of January options expiration reduces Schaeffer's put/call open interest ratio (SOIR) by 39 percent. We will have to see where it goes from here.
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by 1/23/2001 9:32 AM
Stocks quoted in this article:
Liz Claiborne (LIZ – 46-5/16) makes upscale business attire for women. The company sells its brands in department stores and in nearly 250 specialty shops. Last night after the close, the retailer said that its fourth-quarter and year 2000 sales and earnings numbers will likely meet estimates. Analysts are expecting the firm to earn 95 cents per share for the final quarter of the year. The company will report its figures in mid-February.

This news was clouded, however, by the company's prediction that earnings for the first half of 2001 will be more "modest" than the numbers for 2000. Total sales growth for this year will likely fall in the 5-7 percent range, as opposed to 2000, when earnings growth came in between 10 and 11 percent.

Technically speaking, LIZ shares have been rallying steadily since their December 15 bottom. In just over a month, the equity has appreciated more than 22 percent. This surge higher has been guided by the security's ascending 10-day moving average. The stock is currently two points away from its former annual high, which was achieved in late April.

Options are available for LIZ but are very thinly traded. The site of heaviest open interest is the July 50 call, home to 241 open contracts. <
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by 1/23/2001 9:21 AM
Stocks quoted in this article:
Openwave Systems (OPWV – 53-1/4), provider of software for the wireless Web, is a product of the November marriage of Phone.com and Software.com. Its shares have experienced some rough seas in the short time since the merger. But, since reaching a bottom of 23-7/8 on January 8, the shares have bounced back.

Yesterday evening, the company reported reaching profitability one quarter earlier than expected. They earned nine cents per diluted share, compared with expectations of a three-cent loss. Targets for upcoming quarters are being revised upward with revenue for 2001 expected to climb 10-20 percent. This news was music to the ears of shareholders who bid OPWV shares up more than four dollars in after-hours trading.

Options are available for this issue. Peak call open interest in the February series resides at the 50 strike, where there are over 8,000 open contracts.<
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by 1/23/2001 9:19 AM
Stocks quoted in this article:
Vitesse Semiconductor (VTSS – 67-1/4) presented earnings of 25 cents per share, which beat estimates by a penny. First-quarter profit more than doubled on an 85-percent rise in revenue. Actually, that was less of a rise in revenue than some analysts predicted for this company that sells communication chips to Lucent (LU – 19-1/16) and Cisco (CSCO – 41-7/16). VTSS sees 10-15-percent growth for this quarter and then more rapidly accelerating growth to follow. Apparently these seemingly positive results were not what The Street had hoped for, as VTSS shares have traded down more than four dollars since the release.
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by 1/23/2001 9:17 AM
Stocks quoted in this article:
Texas Instruments (TXN – 48-7/16) reported earnings after the bell that disappointed investors. Although fourth-quarter sales and profits were up, the company missed estimates. The company reported earning 31 cents per diluted share, versus 25 cents the same quarter previous year. Estimates forecast a 33-cent gain. Revenue came in three percent lower than the previous quarter, as TXN said their business experienced a rapid shift from strong to weak conditions. They expect the slump to continue through this quarter.

Sales of semiconductors were virtually flat, with chip orders down 15 percent from the previous quarter. One bright spot was the rise in analog chip sales of six percent from the third quarter. TXN shares were punished to the tune of a 5.5-percent drop in after-hours trading. <
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