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by 8/15/2000 9:01 AM
Stocks quoted in this article:
Despite the announcement that former-CEO Dick Cheney would be leaving to join the Republican ticket for president, Halliburton (HAL - 52-1/4) shares continue to motor higher, aided by strong oil prices. Last Thursday, the security moved to levels not seen since May 1998. In yesterday's option trading on HAL, the in-the-money September 55 put was notably active. Nearly 4,000 contracts changed hands at this strike on the day, and nearly all of the volume translated into new open interest.<
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by 8/15/2000 8:59 AM
Stocks quoted in this article:
Yesterday marked the first day of options trading on the Mini-NDX Index (MNX - 371.95). The MNX is a new instrument that is one-tenth the value of the Nasdaq 100 Index (NDX - 3719.61). On the back of Monday's technology rally, the NDX was able to close above its overhead 20-day moving average. Last Wednesday, the NDX was rejected soundly at this short-term trendline and proceeded to move lower in both Wednesday's and Thursday's trading. From a longer-term perspective, the NDX's rally yesterday also took it back above the index's 10-month moving average. After one day of option trading on the MNX, total call open interest stands at 13,612 contracts, and total put open interest stands at 9,095 contracts.<
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by 8/15/2000 8:53 AM
Stocks quoted in this article:
A pair of calls on Mail.com (MAIL - 7-3/8) were again active in yesterday's trading. The August 5 call saw a total of 34,115 contracts change hands on Monday with the volume resulting in an increase to open interest of 10,823 contracts. Heavy option activity on the August 5 call is nothing new. Before yesterday's volume, nearly 38,000 contracts of open interest already resided on the option. The September 5 call was also active, as 34,600 contracts crossed the tape on Monday. Before yesterday, this in-the-money strike had no open interest. As a result, virtually all of yesterday's volume translated into new open interest. Over the last month, MAIL shares have been unable to muscle above their overhead 20-week moving average, which currently resides at about the 7-1/2 mark.
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by 8/14/2000 3:26 PM
Stocks quoted in this article:
Broadbase Software (BBSW - 23), a provider of customer-centric analytic solutions, has moved ahead by seven percent this afternoon, as the security is now sitting just above its 10-day moving average. Since the shares tallied a near-term intraday high on July 13, they have retreated by more than 41 percent under the pressure of this short-term trendline. In BBSW's options pit today, 8,350 contracts have been executed on the out-of-the-money September 17-1/2 put, which has open interest of just 24 contracts. Blocks of 7,000, 1,000 and 250 contracts crossed the tape at the ask price, indicating the potential creation of new positions, while a 100-contract block transpired between the bid and the ask prices. Currently, this is the most-active put contract on the AMEX.<
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by 8/14/2000 3:25 PM
Stocks quoted in this article:
Retail name Kohl's (KSS - 59-7/16) is up fractionally today, receiving support from its 10-day and 10-week moving averages. However, the equity encountered overhead resistance this morning from its 20-day trendline. On the options front this afternoon, the October 65 call has been extremely active with volume of 6,503 contracts. Open interest on this out-of-the-money strike stands at a mere 73 contracts, so most of today's volume should become new positions. This is now among the most-active calls on the CBOE.<
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