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

by 6/13/2000 12:15 PM
Stocks quoted in this article:
Convenience-store name 7-Eleven (SVEV - 14-1/2) was in the news yesterday evening after announcing a seven-percent boost in May same-store sales. Company officials said that an increase in the cost of retail goods, most notable in the cost of cigarettes, contributed to these gains. The stock is trading about two percent higher shortly after noon. After peaking at double-top resistance in the 21 region on May 4, the shares tumbled over 35 percent to a short-term nadir on June 7. The equity's recent low was defined at the site of its ascending 10-month moving average. This long-term trendline has supported SVEV since the beginning of the year. The shares have been attempting to plod higher over the last several sessions but yesterday were thwarted overhead by their descending 10-day moving average. Options are not yet offered on SVEV. <
permalink

by 6/13/2000 12:05 PM
Stocks quoted in this article:
Discount retailer Target Corp. (TGT - 56-1/4) is enjoying a three-percent gain today following the announcement of a joint venture with Internet behemoth America Online (AOL - 52-1/8). The alliance seeks to achieve co-branding and cross-marketing functions, with Target.com becoming one of AOL's primary retail shops, while AOL will be advertised in Target stores nationwide. TGT was in need of a boost after plummeting over 25 percent since May 16. The stock is now sitting near potential triple-bottom support in the 54 area. This level offered strong support for the shares in September and February. The most-active TGT option today is the June 55 put, where 500 contracts have traded already. This option was additionally active yesterday, as over 500 contracts crossed the tape, effectively doubling put open interest at this strike. Today's volume has come across in a variety of block trades that have gone off at or near the ask prices. This implies that these may also be new positions. AOL is trading slightly lower in late-morning activity. <
permalink

by 6/13/2000 12:05 PM
Stocks quoted in this article:
A Market Observation written yesterday discussed optimistic sentiment heading into electronics retailer Best Buy's (BBY - 59-7/16) first-quarter earnings report. This optimism was illustrated by an annual low in BBY's Schaeffer's put/call open interest ratio (SOIR). This morning, the company's earnings report emerged, equaling Street estimates at 34 cents per share. This marks a 54-percent increase over 1999 earnings numbers for the same time period. BBY also reported that same-store sales for the quarter surged 9.5 percent. This news has not generated a stellar reaction on the Street today, as the shares are only trading fractionally higher. Option activity remains concentrated on the call side, however, as the most-active BBY option so far today is the June 60 call, which has seen over 400 contracts change hands. <
permalink

by 6/13/2000 12:04 PM
Stocks quoted in this article:
Papa John's International (PZZA - 20-7/8) is the fourth-largest pizza chain in America, boasting over 2,500 locations, the majority of which provide only carry-out and delivery services. Since mid-March, PZZA has been lodged in a downward spiral, declining by about 40 percent. The equity is now trading below all significant moving averages. Today, PZZA is off over six percent on extremely heavy volume. Earlier this morning, the shares hit an annual low at the 19 mark; PZZA had not traded below the 20 level since February 1996. Today's activity was catalyzed by the restaurateur's announcement yesterday evening that same-store sales for May shed 2.8 percent compared to 1999. PZZA officials followed this news up with an assertion that same-store sales figures for 2000 should climb two to four percent, slightly lower than previously expected. Nevertheless, the company remains confident that it will match consensus earnings estimates for the year. In late-morning trading, the stock had pared its losses slightly and was trading back above the 20 level.<
permalink

by 6/13/2000 11:52 AM
Stocks quoted in this article:
One of the top performing indices so far today has been the AMEX North American Telecom Index (XTC - 1590.82), which is currently ahead by more than 30 points, or nearly two percent. With this advance, the index attained its highest intraday level since May 2. The XTC has been on a near-term upsurge, gaining almost 18 percent since its intraday bottom on May 24. A bullish crossover of the indexís 10-day and 20-day moving averages last week confirmed this upward momentum. The XTC is also sitting above its 20-week moving average, which it hasnít finished a week higher than since early April, as well as its 10-month trendline. Some of the leading performers in the index this morning include Nortel Networks (NT - 62-7/16), up 3.5 percent; Nextel Communications (NXTL - 60-15/16), up 3.4 percent; and Telefonos de Mexico (TMX - 53-15/16), up 1.7 percent.<
permalink

Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
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.