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by 8/11/2000 3:47 PM
Stocks quoted in this article:
Home improvement retailer Home Depot (HD - 55-7/8) is seeing some heavy call option activity today. The in-the-money August 50 and August 55 strikes are home to the bulk of today's option activity. Volume at the two strikes numbered 1,508 contracts for the 50 strike and 1,038 contracts at the 55 strike. On a technical note, HD moved higher off support at its 20-day moving average and is currently up over one percent on the day.
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by 8/11/2000 3:47 PM
Stocks quoted in this article:
Weatherford International (WFT - 46-3/4) provides oilfield products and services. In late-afternoon trading, WFT is seeing some heavy put option activity, as 500 out-of-the-money September 35 puts crossed the tape near the ask in one large block transaction. Technically speaking, WFT bounced off support at its 10-day moving average and is currently trading back near all-time high territory.
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by 8/11/2000 3:02 PM
Stocks quoted in this article:
The September 30-year Treasury Bond futures contract (US/UO - 99-20/32) has been on a wild ride in today trading. Yesterday, the contract made its first close above the psychologically important 100 level. This morning, after the release of the July Producer Price Index, the contract shot higher, eventually topping out at 100-12/32. However, the contract has since moved back below the 100 mark. The 100 level is a site of heavy call open interest and will remain a key level to watch in coming days.<
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by 8/11/2000 3:00 PM
Stocks quoted in this article:
Apple Computer (AAPL - 47-1/4) has been under pressure all day in sympathy with Dell Computer (DELL - 37-13/16). The stock is well off its worst levels of the day but still remains fractionally lower, unable to surmount its 10-day moving average. It appears that an institutional player initiated a spread on AAPL using the October 55 call and the January 55 call. Each option saw approximately 2,500 contracts cross the tape around 11:30 this morning.<
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by 8/11/2000 2:59 PM
Stocks quoted in this article:
Shares of Target (TGT - 29-13/16) have hovered near breakeven for most of the day. Despite the lackluster activity in the shares, the October 30 call has traded actively. Over 4,600 contracts have changed hands on this option. Most of the activity is accounted for by a trio of block trades that crossed the tape this morning. It's possible that today's volume is the result of an institutional player exiting a position because the option already was the site of rather large open interest (nearly 24,000 contracts). By comparison, the option with the next highest open interest is the October 27-1/2 call with just over 4,200 contracts of open interest. From a technical perspective, TGT has traded in a range between 26 and 40 for the last year and a half. <
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