Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

by 9/22/2000 10:23 AM
Stocks quoted in this article:
Luxury jeweler Tiffany & Co. (TIF – 40-1/4) announced on Thursday that it may repurchase up to $100 million of its stock over the next three years, extending the buyback plan under which it bought $49.9 million of its shares since November 1997. The equity is down more than one percent in reaction to this development.

The stock vaulted ahead by more than five percent yesterday, as it approaches its overhead 10-day and 20-day moving averages. These two short-term trendlines recently crossed bearishly, which can be a sign of near-term weakness. The security is also sitting just above its ascending 10-week moving average, a trendline that has offered perfect support on a weekly closing basis since mid-June.

Given that TIF remains in the midst of an intermediate-term uptrend, options players have been showing increased optimism toward the equity since August expiration. On August 18, Schaeffer's put/call open interest ratio (SOIR) on TIF stood at 1.01, which is significantly higher than its current SOIR reading of 0.16. Please visit Schaeffer's Daily Sentiment to learn more about SOIR.


permalink


by 9/22/2000 9:55 AM
Stocks quoted in this article:
After plunging to a 5-1/2 year low in late April, Parametric Technology (PMTC – 11-7/16) has managed to work its way higher. Since its April lows, the stock has appreciated over 50 percent.

Options players are apparently looking for the equity's recovery to end. Yesterday, 7,500 contracts were added to the October 10 put, making it the site of peak open interest on the shares at 10,761 contracts. This was one of the most-active puts on the PHLX on Thursday.
permalink


by 9/22/2000 9:27 AM
Stocks quoted in this article:
Beleaguered office supply retailer Staples (SPLS – 14-7/16) has seen its value recede by 50 percent since mid-February. The stock is firmly in bear-market territory, closing 12 of the last 13 months below its 20-month moving average.

Call players liquidated positions on SPLS yesterday. The December 20 call saw its open interest decline by 13,780 contracts. This activity resulted in a significant spike in SPLS's already high Schaeffer's put/call open interest ratio (SOIR). The ratio went from a reading of 1.83 yesterday to today's reading of 3.62. For more information on SOIR, please visit Schaeffer's Daily Sentiment. <
permalink


by 9/21/2000 3:15 PM
Stocks quoted in this article:
Ford Motor (F – 24-13/16) announced this morning that it plans to acquire the 18.5 percent of H.J. Heinz (HRZ – 31-9/16) it doesn't already own for $30 per share. In response to this news, the stock gapped 7-3/4 points higher at the open and is currently ahead by more than 30 percent on above-average volume. This dramatic upturn has lifted the shares back above both their 10-day and 20-day moving averages, trendlines they haven't closed a session above since August 18.

In HRZ's options pit this afternoon, the in-the-money December 30 call is leading the way on volume of 245 contracts. For the most part, these are likely new positions, as the option entered today's trading with open interest of just 16 contracts.


permalink


by 9/21/2000 3:14 PM
Stocks quoted in this article:
Banking issues are struggling this afternoon, as the PHLX KBW Banking Index (BKX – 844.98) has subtracted nearly 19 points, or more than two percent. This decline has pulled the index poised to its lowest intraday level since August 4. Since tallying an all-time intraday high on September 11, the BKX has slipped back below its 10-day, 20-day, and 10-week moving averages. The 10-week trendline had held as flawless support on a weekly closing basis for the previous seven weeks.

Equities sending the BKX lower today include FleetBoston Financial (FBF – 38-7/8), down 3.7 percent; Comerica (CMA – 53-7/8), down 2.7 percent; Citigroup (C – 52-3/16), down 2.6 percent; Bank One (ONE – 34-5/8), down 2.6 percent; and J.P. Morgan (JPM – 160-5/16), down 2.6 percent.

<
permalink


Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
ADVERTISEMENT
ADVERTISEMENT
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.