Stocks quoted in this article:
Concord EFS (CEFT - 41), a provider of electronic commerce, announced the elimination of 250 jobs last week, equal to 10 percent of its work force. The shares paid the price in Friday's trading, losing over 10 percent of its value on unusually heavy volume. Over 44 million shares changed hands last Friday, far eclipsing the previous daily volume total this year of nearly seven million shares on March 27. The security's decline has taken the stock back to potential support at its 10-month moving average.
Yesterday, the June 45 call saw heavy volume. Over 12,600 contracts changed hands, with most of the volume comprised of large block trades that transacted in the final hour of trading. Open interest rose by nearly 11,600 contracts in response to Monday's volume.