Stocks quoted in this article:
On Thursday, online advertising name DoubleClick (DCLK – 12-1/2) said that its third-quarter loss widened as expenses more than doubled. The company also announced that its advertising sales would be weaker in the first quarter of 2001.
Not surprisingly, investors have shown their displeasure with this news, as the stock is down more than five points, or over 31 percent, in late-morning action. This has sent the shares to levels not seen since early January 1999 and continued their near-term weakness. Since DCLK's near-term intraday high on September 20, it has plunged greater than 70 percent under the pressure of its downtrending five-day moving average.
On the options front this morning, 2,214 contracts have traded on the January 12-1/2 call. This near-the-money option has no open interest, so all of today's activity should become new positions. Additionally, 1,126 call contracts have crossed the tape at the out-of-the-money January 15 strike. On the put side, the out-of-the-money January 10 put has seen volume of 2,425 contracts on no open interest.