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

by 10/25/2000 9:15 AM
Stocks quoted in this article:
Affymetrix (AFFX – 52-5/16) announced late yesterday that it broke even for its third-quarter earnings. This maker of genetic research tools was expected to lose 12 cents per share. According to I/B/E/S International, this marked the company's fifth positive earnings surprise in the previous six quarters.

Heading into this earnings report, the stock dropped by more than five percent on Tuesday to slip back below both its 10-day and 20-day moving averages. The shares remain in the midst of a near-term slump, as they have wilted by over 37 percent since their September 1 intraday high. AFFX is also trading below all of its significant intermediate-term and long-term moving averages. However, the security should receive a boost from yesterday's positive earnings surprise, as it is poised to open greater than five points, or nearly 11 percent, higher this morning.

<
permalink


by 10/24/2000 3:47 PM
Stocks quoted in this article:
Thanks to upgrades from two major brokerage firms, PeopleSoft (PSFT – 43-1/2) notched its second straight two-year high in today's trading. The equity has put on a solid run over the past five months, rallying over 260 percent since its mid-May lows.

Call players are hopping on board today, particularly on the December 50 call, where over 2,800 contracts have changed hands. Since this option has open interest of just 108 contracts, this activity should translate to new positions.

PSFT's options configuration is already slanted to the call side. Its Schaeffer's put/call open interest ratio (SOIR) stands at a low reading of 0.23, which indicates that call open interest exceeds put open interest by a margin of over four to one for options expiring within the next three months. For more information on SOIR, please visit Schaeffer's Daily Sentiment. <
permalink


by 10/24/2000 3:47 PM
Stocks quoted in this article:
Laboratory Corporation of America (LH – 132-5/16) is up over 17 percent in late trading today. Yesterday after the close, the company posted third-quarter earnings of 94 cents per share, well ahead of Street projections of 81 cents per share. The company also said it anticipated reporting full-year 2000 earnings of $3.20 per share, 13 cents above the current estimate. Company officials also said that they expect 2001 earnings per share to increase by about 50 percent.

The stock had been trending sideways for the past month after rallying over 275 percent from its late-February lows to its previous high from mid-September. Today's move puts the shares at their highest level in five years.

LH's typically sedate options pit has come to life today. The most-active option is the December 130 call, which has seen 506 contracts change hands. Because this option had no open interest coming into today, this activity should translate to new positions.
permalink


by 10/24/2000 2:40 PM
Stocks quoted in this article:
MarchFirst (MRCH – 4-3/4), a provider of Internet consulting services, announced this morning that it lost $2.86 per share in the third quarter. The firm was expected to earn 19 cents per share in the quarter. As a result of this drastically negative fundamental news, the company has received numerous downgrades for a variety of brokerage houses.

In response, the equity has plunged almost seven points, or just over 59 percent, lower on heavy volume in today's action. MRCH is now trading at all-time low levels, eclipsing its previous worst mark of 5-3/4 from its initial public offering in May 1996.

On the options front this afternoon, the far-out-of-the-money February 20 call is leading the way on volume of 835 contracts. On the put side, the November 5 put has seen 540 contracts cross the tape.


permalink


by 10/24/2000 2:39 PM
Stocks quoted in this article:
Mylan Laboratories (MYL – 27-3/8) has ebbed by over two points, or more than seven percent, this afternoon to dip back below its 10-day and 20-day moving averages. This retreat comes just two sessions after the shares recorded a 5-1/2-month closing best. However, the stock continues to receive support from its 10-week moving average, a trendline that the security hasn't ended a week lower than since late July.

In MYL's options pit today, 1,192 contracts have crossed the tape on the out-of-the-money November 30 call, which has open interest of 687 contracts. In addition, 4,850 contracts have transpired on the in-the-money November 30 put. Open interest on this option stands at just 80 contracts, indicating that almost all of today's volume should become new positions. This is presently among the most-active puts on the AMEX.

<
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.