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

by 2/27/2001 11:21 AM
Stocks quoted in this article:
Home-improvement retailer Lowe's (LOW 58.34) rallied nearly eight percent during Monday's session following a well-received earnings announcement. Today, the stock is trading just below the breakeven mark, with action running rampant in LOW's options pits. The out-of-the-money March 55 put is the focal point for the speculative crowd today, as this is currently the most-active put option trading on the AMEX, the Pacific Exchange, and the International Securities Exchange. In total, 10,539 contracts have already changed hands within the first two hours of trading. Open interest at this strike prior to today stood 3,015, suggesting the bulk of today's volume will likely translate into new open interest.

Block trades ranging in size from one to 2,000 contracts have crossed the tape throughout the day. These have gone off primarily between the bid and the ask prices or off the ask.
permalink


by 2/27/2001 10:43 AM
Stocks quoted in this article:
Federated Department Stores (FD 46.20) is the largest operator of upscale department stores in the United States. The company is responsible for such names as Macy's and Bloomingdale's, as well as five regional chains and the Fingerhut catalog operation.

This morning, FD announced fourth-quarter earnings of $2.15 per share, beating analysts' estimates by a nickel. Despite this positive earnings surprise, FD officials did admit that 2000 was a lackluster year, and said 2001 would prove to be challenging as well. All the same, the equity has risen more than one percent in early trading and is within a chip-shot of eclipsing its recent annual high of 47.10.

The shares have been a strong trender in this equity market, tacking on 120 percent from its July low. The shares are seated above all significant moving-average trendlines.

On the options front, speculators seem to favor the bearish check-out line. The site of heaviest overall open interest is the May 35 put, home to 2,207 open contracts. By contrast, the site of heaviest call open interest is the January 2002 45 strike, where 611 open calls reside.
permalink


by 2/27/2001 10:33 AM
Stocks quoted in this article:
Online retailer eToys (ETYS 0'03), which during its recent turmoil has oft been featured in our commentaries, has seen what will likely be the final nail driven into its Furby- and Elmo-filled coffin. Last night, lingering officials at the company said it will file for bankruptcy sometime within the next five to 10 days. The website will stop taking orders on March 8, and the firm expects its stock to be de-listed shortly thereafter, if not before.

Still taken aback from the news, ETYS shares have been halted all morning at three cents per share.
permalink


by 2/27/2001 10:23 AM
Stocks quoted in this article:
Cardinal Health (CAH 98.13) is the second-largest U.S. distributor of pharmaceutical supplies. The company currently ranks 59th within the Fortune 500. Today, the firm announced a three-for-two stock split. It will be paid on April 20 to shareholders of record by April 5. Additionally, CAH officials recommended a 25-percent boost in its quarterly dividend, which currently stands at eight cents per share.

Finally, the company said it sees 2001 and 2002 earnings growing by an annual rate of 20 percent. All of these healthy fundamental announcements have done little to aid the shares, which are trading modestly lower this morning. The stock remains above its significant weekly and monthly moving averages, however, and is less than seven percent away from its all-time peak.
permalink


by 2/27/2001 9:52 AM
Stocks quoted in this article:
Bristol-Myers Squibb (BMY 61.90) has received subpoenas from Federal prosecutors in Boston, investigating its marketing practices of its cancer treatments to physicians. Specific concerns include whether doctors were given inducements to use the BMY oncology products and whether they were encouraged to improperly bill Medicare. BMY is the largest supplier of oncology products to physicians and not the only company being looked at by prosecutors. Other states including Florida, California, and Texas are also looking into such practices.<
permalink

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

Partner Center

© 2015 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.