Ford Motor (F) calls are being sold after Citi Investment Research cut their price target on the automaker to $7.00 a share, from $8.50. The stock is up 6 cents to $6.93 and therefore just 7 cents from the firms new price target. Citi now expects Ford to post a loss of 46 cents a share for 2008, down from earlier estimates of a 12 cent loss. The January 10 calls are the most actives. 13,250 contracts have traded, with 64 percent trading on the bid. Selling is picking up in the June 8 and July 5 calls as well.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.