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by 5/25/2000 8:53 AM
Stocks quoted in this article:
Four of the five most-active call options on the CBOE yesterday were S&P 500 Index (SPX - 1399.05) options. The June 1425 call and June 1350 call ranked as the two most-active options, with volume of 22,084 contracts and 19,573 contracts, respectively. A pair of March 2001 options were also active. The 1400 call and 1500 call traded 15,000 contracts and 14,150 contracts, respectively, ranking them as the fourth and fifth most-active call options on the CBOE yesterday. A look at the resulting open interest adjustments indicates that yesterday's action was the result of an institutional player rolling out a large spread position. The SPX June 1425 call and June 1350 calls saw open interest fall by approximately 11,700 contracts and 13,500 contracts, respectively. In contrast, the SPX March 2001 1400 and 1500 calls saw virtually all of yesterday's volume translate into new open interest. These two options had negligible open interest before yesterday's trading.
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by 5/25/2000 8:49 AM
Stocks quoted in this article:
What a difference a day makes. With the world markets chasing Wall Street higher overnight, 17 of 19 world markets are higher thus far. On average, the overseas markets rose 1.32 percent. The top four major markets and their respective returns are Finland (HEXND - 14967), up 5.29 percent; Sweden (AFFND - 5796), up 2.82 percent; France (CACND - 6156), up 2.14 percent; and Israel (ISRND - 508.23), up 2.13 percent. The bottom four major markets and their respective returns are Singapore (SIIND - 1850.2), down 1.16 percent; Hong Kong (HKIND - 13921), down 0.09 percent; Belgium (BELND - 2902.4), up 0.05 percent; and Ireland (ISQND - 5054.7), up 0.19 percent.
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by 5/24/2000 6:01 PM
Stocks quoted in this article:
United Healthcare (UNH - 77-7/8) owns and manages organized health systems in the United States and internationally. Today, the stock is one of the names gracing the new highs list with an advance of nearly three percent. From a technical perspective, the stock has been on a tear in 2000 with a gain in excess of 45 percent. On the sentiment front, options players are still skeptical of UNH despite the stock's stellar performance of late. According to our research, Schaeffer's put/call open interest ratio (SOIR) on UNH is in the 82nd percentile of all readings over the past year, indicating that pessimism on the part of the options crowd is near extreme levels.
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by 5/24/2000 3:17 PM
Stocks quoted in this article:
Costco (COST - 32-3/4) is the largest operator of wholesale clubs in the United States, surpassing Wal-Mart's (WMT) Sam's Club chain. In Wednesday's trading, the shares have plunged more than 20 percent on extremely heavy volume to reach a new 52-week low at 25-15/16. This decline followed a report that COST's fourth-quarter earnings announcement will likely miss analysts' estimates by one to two cents per share. Additionally, the firm said its earnings will rise 11-to-13 percent over the next year, compared to the 16-percent originally predicted. COST officials cited rising wages, continued store expansion, and other fundamental issues as the reason for this downfall. This will mark the first time the retailer has fallen short of analysts' expectations since 1995. In response, a number of brokerage houses downgraded the stock, including Morgan Stanley, Merrill Lynch, and Goldman Sachs. On the options front, nearly 3,100 contracts have changed hands on the June 40 call. Prior to today, this strike was home to only 109 contracts.
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by 5/24/2000 2:58 PM
Stocks quoted in this article:
With the Nasdaq Composite (COMP - 3193.9) up 0.93 percent and the S&P 500 Index (SPX - 1389.73) up 1.16 percent today, many of the sector indices are higher, with 23 of 35 in positive territory. Among the indices we follow, one hit an new annual low, while none hit a new annual high. Today's top four performing indices are the AMEX Airline Index (XAL - 160.72), up 10.3 percent; the AMEX Computer Technology Index (XCI - 1300.7), up 3.0 percent; the CBOE Computer Software Index (CWX - 1099.5), up 3.0 percent; and the PHLX Semiconductor Index (SOX - 887.4), up 2.0 percent. The four indices showing the most weakness are the S&P Retail Index (RLX - 863.4), down 3.2 percent; the AMEX Securities Broker/Dealer Index (XBD - 428.94), down 2.7 percent; the AMEX Disk Drive Index (DDX - 74.98), down 2.5 percent; and the PHLX Oil Service Sector Index (OSX - 119.6), down 2.3 percent.<
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