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

by 6/7/2000 10:54 AM
Stocks quoted in this article:
SpectraSite Holdings (SITE - 22-1/4) provides outsourced antennae site and network services to the wireless communications and broadcast industries. This morning, the equity has elevated by more than 10 percent to reach its top intraday mark since May 5. Since its intraday bottom on May 20, the shares have added almost 53 percent to their value. SITE is poised to close this week’s trading above its 10-week moving average for the first time since late March. On the options front today, investors are apparently showing their belief that the stock has more upside potential. The out-of-the-money June 25 call has been active on volume of 1,250 contracts. This strike has open interest of just 151 contracts, so most of this morning’s volume should translate into new positions. Currently, this option is among the most-active call contracts on the AMEX.
permalink

by 6/7/2000 10:14 AM
Stocks quoted in this article:
MP3.com (MPPP - 14-3/8) is a website that utilizes MP3 technology to offer over 420,000 songs by around 67,000 musical artists free of charge. The company earns its revenue through advertising and the sales of compilation compact discs. Today's Wall Street Journal reported that MPPP is close to settling a copyright-infringement lawsuit with Time Warner (TWX - 82-1/16), wherein MPPP would likely pay the entertainment conglomerate $15 million to $20 million. In separate news, MPPP announced a partnership with ReQuest Multimedia, a digital media firm. The joint venture will allow MPPP users to download songs and services from MPPP's website without benefit of a personal computer. Shortly after the opening bell, MPPP shares had rallied nearly 25 percent. This has taken the equity above its 10-day and 20-day moving averages. Additionally, the equity has inched above a trading range that kept the shares shackled between the 9 and 15 levels since early April. <
permalink

by 6/7/2000 10:13 AM
Stocks quoted in this article:
Safeway (SWY - 41) is one of the largest grocery chains in North America, operating over 1,600 stores throughout the United States and Canada. For the past four months, SWY has been hovering in a range between 39 and 49. Moreover, the stock has been sandwiched between its 10-month and 20-month moving averages. This week, the shares have declined slightly, breaching their ascending 20-week moving average in the process. This intermediate-term trendline has been offering support for the shares since early March. Last night after the close, SWY announced plans to invest $10 million in online grocer GroceryWorks.com. Through this deal, GroceryWorks will act as SWY's exclusive online grocery vendor. SWY officials went on to note that they will likely invest an additional $20 million in GroceryWorks in the near future. On the options front, SWY continues to be heavily favored by call players. This bullishness is evidenced by SWY's Schaeffer's put/call open interest ratio (SOIR), which weighs in at 0.17. This means that for every 100 open calls in the front three-month series, there are only 17 open puts in residence. This ratio ranks in the 16th percentile of all annual SOIR readings for SWY.
permalink

by 6/7/2000 9:28 AM
Stocks quoted in this article:
Wall Street's late-day sell-off yesterday raised a caution flag in global markets. Five of 18 world markets are higher thus far. On average, the overseas markets fell by 0.52 percent. The top four major markets and their respective returns are Singapore (SIIND - 2028.9), up 1.36 percent; Switzerland (SMIND - 7778), up 0.40 percent; Italy (MILND - 31687), up 0.37 percent; and Hong Kong (HKIND - 15900), up 0.24 percent. The bottom four major markets and their respective returns are France (CACND - 6475), down 1.75 percent; Finland (HEXND - 16333), down 1.63 percent; Israel (ISRND - 533.18), down 1.44 percent; and Spain (IBEND - 10642), down 1.30 percent.
permalink

by 6/7/2000 9:22 AM
Stocks quoted in this article:
Yesterday, AutoZone's (AZO - 28-1/16) board of directors approved the repurchase of up to an additional $250 million of common stock, bringing the total repurchase authorization to $1.25 billion. As of yesterday, cumulative share repurchases including forward commitments came to $907 million, or 34.6 million shares. On May 22, the company reported third-quarter earnings of 50 cents per share, exceeding analysts’ consensus opinion by one cent per share. Schaeffer’s put/call open interest ratio (SOIR) on AZO has retreated from a reading of over 2.0 in mid-May but still stands at a relatively high reading of 1.3. This means that there are 130 put positions for every 100 call positions for options expiring within the next three months. The shares have been trading above their short-term moving averages since early May but are moving closer to chart-related resistance in the 29-30 area. There is currently very little in options-related resistance overhead. Short interest has been steadily increasing on the shares with over 9.8 million shares short, bringing the short-interest ratio to a whopping 21.2. This means it would take 21.2 days at AZO’s average daily volume to cover all of the short positions. If the shares were to continue to rally, some of the short traders might be forced to cover their positions by buying back the shares, thus adding fuel to the rally’s fire.<
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.