Stocks quoted in this article:
To follow-up yesterday's Market Observation
on VeriSign (VRSN – 143-7/8), the stock managed to pare its losses, closing in the red by more than five points but ahead of the key 140 mark. The shares could now use this technically significant level to support a near-term upswing.
This morning, VRSN gapped 2-3/4 points higher and climbed as high as 149-1/2. The equity is now just over one percent in positive territory, as it continues to hover below all of its significant short-term and intermediate-term trendlines as well as its 10-month moving average.
On Thursday, information from Schaeffer's Daily Sentiment indicates that investors are showing more optimism toward the security. For options expiring within the next three months, call open interest increased by 4,125 contracts yesterday, while put open interest expanded by just 959 contracts.