Stocks quoted in this article:
PeopleSoft shares (PSFT - 32-3/4) were unable to dodge the selling pressure on Wall Street yesterday. The stock finished the session down 4-7/16, or nearly twelve percent. The decline takes PSFT down to the 32-33 level, which has provided technical support for the shares on several occasions over the past month and a half.
In yesterday's trading, a pair of PSFT puts was active. The January 35 put traded over 4,300 contracts, resulting in an increase to open interest of about 3,700 contracts. The January 40 put traded over 2,500 contracts, which resulted in a decrease to open interest of about 1,900 contracts.