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by 9/15/2000 9:39 AM
Stocks quoted in this article:
On Thursday, Nike (NKE 37-3/16) posted first-quarter earnings of 77 cents per share, topping brokers' predictions by three cents per share. The company also backed its year 2000 earnings estimates of $2.35 per share. What's more, NKE revealed this morning that it is on the verge of signing golfer Tiger Woods to an endorsement contract worth about $100 million, which is believed to be the richest in sports.

Yesterday, the stock moved over one percent lower to remain below its descending 10-day moving average. The shares have logged only one close above this short-term trendline since August 18. The security also has retreated by nearly 22 percent since its near-term intraday high on August 9. This morning, NKE has stepped back by more than two percent.

Schaeffer's put/call open interest ratio (SOIR) on NKE now stands at an annual high of 1.06, which indicates that total put open interest exceeds total call open interest by six percent for options expiring within the next three months. Please visit Schaeffer's Daily Sentiment for additional information about SOIR.


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by 9/15/2000 9:37 AM
Stocks quoted in this article:
Effective today, Healtheon/WebMD (HLTH 16) has changed its name to WebMD. The company's stock and option symbols will remain the same, and no adjustments to its options will be made to reflect this name change.

In Thursday's trading, the security advanced by more than six percent to snap its five-session losing streak. This climb also took the shares back above their 20-day moving average, a trendline they closed below on Wednesday for the first time since August 16. The stock is unchanged so far this morning.

HLTH's short-interest ratio now stands at a high level of 6.42 times the equity's average daily volume. If the stock is able to carry over yesterday's session and continue higher, short-interest investors may forced to cover their positions, thus providing an extra boost upward.

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by 9/14/2000 4:28 PM
Stocks quoted in this article:
A major brokerage firm downgraded Colgate-Palmolive (CL 47-1/4) from "buy" to "market perform" today, citing expected weaker third-quarter earnings. In response, CL dropped nearly 16 percent on the day to its lowest level in 16 months. The primary reason cited was the weak Euro currency and high oil costs. Though CL is still expected to meet analysts' earnings expectations of 43 cents per share for the third quarter, a lower tax rate will likely be the sole reason. The brokerage firm said that without the help of the lower tax bracket, these "lower quality" earnings would not be achieved. CL has fallen nearly 30 percent from its January all-time high of 66-3/4.<
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by 9/14/2000 3:48 PM
Stocks quoted in this article:
Internet security company Symantec (SYMC 47-1/4) has dropped over 40 percent since its all-time high in early March. The stock is down fractionally in late trading today. Not surprisingly, its options configuration reflects extreme pessimism. For options expiring within the next three months, put open interest exceeds call open interest by 89 percent.

In SYMC's options pit today, activity is again focused on the put side. Almost 6,400 contracts have traded on the October 50 put. Since this option has open interest of only 499 contracts, this activity likely represents new positions. A 3,000-contract block traded at the ask, indicating a purchase. Several mid-sized blocks also crossed the tape near the ask. This is the most-active put on the Pacific Exchange. <
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by 9/14/2000 3:24 PM
Stocks quoted in this article:
Mail.com (MAIL 6-3/4) has advanced almost 23 percent from its intraday low on Friday. This has taken the stock above its downtrending 10-day moving average for the first time since late July.

MAIL has seen heavy options activity today. It appears that positions were rolled out from the September 5 call to the October 5 call. The September 5 call has seen volume of 47,000 contracts on open interest of 41,924, while 46,201 contracts have crossed the tape on the October 5 call, which has open interest of 3,050 contracts. These are by far the busiest options on the CBOE.
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