Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

by 11/1/2000 12:54 PM
Stocks quoted in this article:
Construction spending remained robust for the reporting period ending in September. According to the Commerce Department, total construction spending rose 2.4 percent in September, which is significantly higher than analyst expectations of a 0.4-percent advance. The September results pushed the seasonally adjusted annual rate up to $819.3 billion, its second-highest level on record.
permalink

by 11/1/2000 12:45 PM
Stocks quoted in this article:
This morning, the Commerce Department released the October figures for the National Associations of Purchasing Management (NAPM), which showed manufacturing activity easing and prices growing at a slower pace. The NAPM business index, which is a broad gauge of the nation's manufacturing sector, dropped to 48.3 in October from 49.9 in September. (Readings above 50 denote expansion of manufacturing activity and prices, while readings below 50 indicate contraction.) The business index readings correspond with economic growth at an annualized pace of 2.1 percent. The prices index, however, dropped from 58.1 in September to 56.5 in October. This indicates that although prices increased, they did so at a slower rate.
permalink

by 11/1/2000 9:56 AM
Stocks quoted in this article:
Yesterday's positive move in the Nasdaq-100 Trust (QQQ – 80-7/16) spawned some fairly pessimistic behavior from its options investors. Open interest on the November 80 put nearly doubled by over 15,000 contracts, as investors expressed their disbelief that the tech-heavy Nasdaq 100 Index (NDX – 3225.26) will be able to sustain its recent jump in value. This dramatic increase in open interest makes the 80 strike the site of peak put open interest, which in the past has supported the shares. With this morning's trading underway, QQQ shares have already challenged this level and reveresed higher. Support at 80 for QQQ shares would be strengthened should this level hold through the day. The QQQ 80 strike translates into the 3200 level for the NDX, which these shares track.
permalink

by 11/1/2000 9:46 AM
Stocks quoted in this article:
The Dow Jones Utility Average (UTIL - 397.71) is making yet another assault on the 400-century mark. The all-time high on the average is 405.33, achieved in early October. Since September, the average has been attempting to take out this short-term psychological resistance area. One way to play the strength in the group in the optons arena is via index options on the Philadelphia Stock Exchange's Utility Index (UTY - 374.67). Both the UTIL and the UTY have consolidated into their 10-week moving aveages and appear poised to move higher from these trendlines.<
permalink

by 11/1/2000 9:07 AM
Stocks quoted in this article:
This morning, insurance giant Aetna (AET – 57-13/16) released better-than-expected third-quarter earnings of $1.10 per share, which exceeded Wall Street estimates by 20 cents per share. In addition, the firm stated that it remains committed to its plan to exit about half of its Medicare HMO markets on January 1, 2001, a move the company expects will result in substantial improvement in the results of the remaining Medicare HMO business.

AET shares have been trading virtually sideways since mid-July. This consolidation has significantly reduced the effectiveness of the equity's moving-average trendlines.
permalink


Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
ADVERTISEMENT
ADVERTISEMENT
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.