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BroadVision (BVSN – 23-13/16) is poised to open today's trading up by more than four points, or over 20 percent. This expected rise comes on news that the stock will be added to the S&P 500 Index (SPX – 1374.62), replacing PaineWebber Group (PWJ – 66-7/8), which is being acquired by USB AG. This change will occur after next Monday's closing bell.
BVSN finished yesterday's trading ahead by greater than eight percent, using support from its ascending 10-day moving average. The stock, though, remains beneath all of its significant intermediate-term and long-term moving averages.
Information from Schaeffer's Daily Sentiment shows that investors are displaying more optimism toward BVSN. On September 19, Schaeffer's put/call open interest ratio (SOIR) on the equity stood at 0.58, which is significantly above the security's current SOIR of 0.35. During this time frame, call open interest for options expiring within the next three months expanded by 27,818 contracts, while put open interest rose by just 2,493 contracts.