Stocks quoted in this article:
On Wednesday, Palm Inc. (PALM - 31-7/8) reached its highest intraday level since April 14, as the stock gained over one percent. This afternoon, though, the shares have erased all of yesterday's climb, slipping down by nearly two percent. However, PALM remains in the midst of a near-term uptrend, stepping up by about 60 percent since its intraday bottom on May 24. On the options front today, 1,508 contracts have crossed the tape on the July 30 call, which has open interest of 5,373 contracts. In the back-month series, numerous contracts have seen volume of more than 1,000 contracts, led by the August 20 call (4,150 contracts) and the August 10 call (3,661 contracts). These are currently two of the most-active calls on the Pacific Exchange and PHLX, respectively.