Stocks quoted in this article:
Yahoo! (YHOO - 21 and halted) offered its regrets to appear at a Merrill Lynch Internet Conference scheduled for tomorrow. The news has caused much speculation as to the company's reasoning for bowing out.
The shares have traded sporadically this morning and are currently halted again. Already over two million shares have changed hands. It is difficult to tell if the halt was related to the cancellation or if news from the company is imminent.
Options investors have piled into open call positions on the March 25, 30, and 35 strikes (8,987, 10,184, and 8,031, respectively).
Accordingly, the Schaeffer's put/call open interest ratio (SOIR) for YHOO stands at 0.52 (52 open put positions for every 100 call open positions).