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by 9/18/2000 9:27 AM
Stocks quoted in this article:
Philip Morris (MO 27-1/8) closed more than one percent lower on Friday to notch its worst closing level since August 4. The equity has been technically weak over the near term, falling over 20 percent since its August 16 close under the pressure of its downsloping 10-day moving average. MO finished last week's trading beneath its 10-week moving average for the first time since the end of July.

In MO's options pit on Friday, the October 27-1/2 put was active, as open interest at this near-the-money strike increased from about 3,200 contracts to 4,910 contracts. This option is now the site of peak front-month total open interest.


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by 9/15/2000 3:36 PM
Stocks quoted in this article:
Silicon Graphics (SGI 4-1/16) is down more than 15 percent in late-afternoon activity, as the shares appear poised to log their lowest closing mark since July 12. The equity has wilted by almost 22 percent since registering a near-term intraday high on August 22, dropping beneath all of its key short-term moving averages as well as its 10-week trendline.

In SGI's options pit today, an eye-popping 16,135 contracts have transpired on the out-of-the-money October 5 call. Two blocks of 7,500 contracts crossing the tape between the bid and ask prices accounted for most of this volume. Open interest on this option stands at just 321 contracts, so most of this heavy trading is likely to become new positions. This is currently the most-active call contract on the AMEX.


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by 9/15/2000 3:23 PM
Stocks quoted in this article:
Halliburton (HAL 52-7/8) has been swept up in the rally in oil-related issues and is up almost three percent in late-day trading. The stock has been trending sideways in a tight range between 50 and 55 for the past month.

In HAL's options pit today, it appears that a large position on the September 55 put was rolled out to the October 55 put. The September option has seen volume of 6,531 contracts on open interest of 6,605 contracts, while the October call logged volume of 5,805 contracts versus its open interest of just 220 contracts. These are two of the busiest puts on the CBOE.
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by 9/15/2000 3:14 PM
Stocks quoted in this article:
Gap Inc. (GPS 24-1/16) owns popular apparel stores The Gap, Banana Republic, Old Navy, and Gap Kids. The equity has been beleaguered of late, dropping off 54 percent from its early-April peak above the 53 mark. However, the stock received positive mention in this week's edition of BusinessWeek.

A fund manager reported that he sees little continued downside for GPS shares, and cites that the company has bounced back successfully from similar pullbacks in the past. The analyst quoted said he sees GPS earnings for 2000 weighing in at $1.15 per share, but climbing to $1.45 per share in 2001 and $1.75 in 2002. Despite these words of encouragement, GPS shares have dipped nearly five percent in Friday's trading.
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by 9/15/2000 3:08 PM
Stocks quoted in this article:
Maytag (MYG 33-11/16) is America's number-three manufacturer of home appliances. Over the past 16 months, the shares have fallen about 55 percent off their highs achieved in May 1999.

Today, the shares have fallen nearly six percent, gapping lower at the opening bell. This decline was spurred by the company's announcement that its third-quarter and fourth-quarter earnings-per-share numbers will miss analysts' estimates. MYG cited the loss of its Heilig-Myers chain as a primary reason for this shortcoming. MYG should report third-quarter figures around the second week of October.
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