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EMC Corp. (EMC – 88-1/8) is in positive territory by almost four points, or over four percent, this afternoon, but it remains below its 10-day and 20-day moving averages. The equity has retreated by more than 17 percent since recording an all-time intraday high of 104-15/16 on September 25. The shares are trading beneath their 20-week moving average, but they continue to obtain support from their 10-month trendline.
On the options front today, 1,373 contracts have traded on the out-of-the-money November 100 call, which has open interest of 9,139 contracts. In addition, the April 90 call has seen volume of 4,050 contracts. Open interest at this out-of-the-money strike stands at 1,465 contracts, indicating that some of today's volume should become new positions. This is currently one of the most-active options on the AMEX.
On the put side, 1,054 contracts have traded on the out-of-the-money December 75 put, which has open interest of 939 contracts.