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by 9/27/2000 12:21 PM
Stocks quoted in this article:
More bad news for Lernout & Hauspie (LHSP 11-5/8) has sent the stock to its lowest level since early January 1998. Last night, the company said that its revenue and earnings for the third quarter will fall short of analysts' projections. The equity is off over 17 percent in midday trading. The shares have plunged over 45 percent since the close on September 20 after it was announced that the SEC would be investigating the company's previous financial statements.

It's no wonder LHSP's options configuration is slanted to the put side. For options expiring within the next three months, put open interest exceeds call open interest by 60 percent. Today, 1,100 contracts have changed hands on the October 15 put on open interest of 2,018 contracts. These options traded between the bid and the ask, making it difficult to guess the investors' intentions.
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by 9/27/2000 11:34 AM
Stocks quoted in this article:
On Tuesday, Tibco Software (TIBX 88-3/8) posted third-quarter earnings of seven cents per share, topping analysts' forecasts by two cents per share. In reaction to this positive earnings surprise, the stock gapped nearly 10 points higher at this morning's open and reached as high as 96-3/4 before reversing. The shares are now in the black by nearly four points, or more than four percent, as they are trading back below their 20-day moving average. TIBX has not closed a session above this short-term trendline since September 8.

Short interest on the equity has soared since mid-April, rising from a mere 169,871 shares to August's reading of 2.53 million shares, an all-time high. If TIBX is able to maintain today's upward momentum, a short-covering rally could ensue, which might give the security an extra boost over the near term.


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by 9/27/2000 10:53 AM
Stocks quoted in this article:
The CBOE Internet Index (INX 503.57) is down more than 12 points, or over two percent, in late-morning trading to fall to its worst intraday mark since August 15. Since logging a near-term intraday high on September 5, the index has stepped back by 16 percent. The INX is now trending below all of its significant moving averages.

Leading index underperformers so far today have been CMGI Inc. (CMGI 28-1/4), down 6.7 percent to register an annual low; DoubleClick (DCLK 33-15/16), down 6.5 percent; Yahoo! (YHOO 96-3/4), down 5.6 percent; eBay (EBAY 67-9/16), down 4.5 percent; and Amazon.com (AMZN 38-7/16), down 3.3 percent.


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by 9/27/2000 10:03 AM
Stocks quoted in this article:
Amgen (AMGN 71) has been confined in a trading range between 64 and 76 for the past two months. Yesterday, the stock pushed off its 20-day moving average to reach the middle of its range. The equity has gotten off to a sluggish start this morning with an early fractional loss.

Yesterday, open interest on the January 2002 60 put increased by 9,010 contracts, making it one of the most-active puts on the AMEX. This is now the site of peak put open interest on the shares. <
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by 9/27/2000 9:58 AM
Stocks quoted in this article:
Bluestone Software (BLSW 17-1/8) makes Java-enabled server software that allows companies to do business in cyberspace. In 1999, the firm's sales totaled $15.6 million, a 92-percent improvement over the previous year. From a technical perspective, the stock has been in quite a slump, suffering a nine-month decline. Since its short-term peak around 108 in mid-January, the shares have retreated nearly 85 percent. The equity is sitting below all of its significant moving averages, both short-term and long-term.

Yesterday, BLSW put options were the latest craze, as the October 15 put was the most-active put option trading on the CBOE. Exactly 20,000 contracts were executed on this out-of-the-money option, which was previously home to 2,401 contracts. All of this volume translated into new open interest, as 22,401 contracts now reside at this front-month strike.

This volume transpired late in the day, as three mammoth blocks crossed the tape between 3:25 and 3:29 p.m. Two of these blocks consisted of 7,000 contracts apiece, while the remaining block was comprised of 6,000 contracts. These blockas all traded between the bid and the ask prices at a cost of 5/8 per contract. In total, these 20,000 contracts are worth $1.25 million. BLSW is down slightly in early-morning activity.
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