Archive for September, 2008

ConocoPhillips (COP) $73.25 +5.68%

Conoco Phillips (COP, chart, volatility) appears to have been the subject of a substantial collar strategy Tuesday. Shares gained $3.94 to $73.25 after crude oil rose 5 percent and reclaimed $100 a barrel. The top two trades in COP options included 7,500 of the January 2010 puts with the 50 strike and 7,500 of the [...]

September 30, 2008 More

Alpha Natural Resources Inc (ANR) $51.43 +18.48%

Alpha Natural Resources (ANR, chart, volatility) saw bullish trading amid a recovery in the coal stocks Tuesday. The Market Vectors Coal Fund (KOL), which was down 40 percent month-to-date prior to today, gained $2.25 to $29.44. ANR was one of the stars of the show, rallying $8.02, or 18.5 percent, to $51.43. In the options [...]

September 30, 2008 More

Alcoa Inc (AA) $22.58 +5.61%

30,000 of the October 40 Puts traded late this afternoon, priced at $17.60 or 15cents above parity based on the stock price of $22.55. This type of volume (also seen in deep puts on CEG today) involves a strategy to avoid being assigned on short positions that have no remaining time value and are likely [...]

September 30, 2008 More

Caterpillar Inc (CAT) $59.33 -0.94%

Caterpillar (CAT, chart, volatility) is bucking the bullish trend Friday. It is the only stock among the Dow thirty not moving higher late Tuesday. CAT is down 72 cents to $59.17. In the options market, trading is active. 25,000 CAT puts and 15,000 calls have traded. Most of the put volume is in the October [...]

September 30, 2008 More

Allied Capital Corp (ALD) $8.13 -35.22%

Allied Capital (ALD, chart, volatility) implied volatility is reaching 225 percent, up from under 80 percent yesterday, on news lender Ciena Capital, one of Allied’s portfolio company’s, filed for bankruptcy. The credit cruch has caused the value of Ciena’s assets to decline and the company cannot repay its debt. Allied guarantees Ciena’s obligations and will [...]

September 30, 2008 More

Duke Energy Corp (DUK) $17.57 -0.23%

Duke Energy (DUK, chart, volatility) is seeing bearish order flow Tuesday. Shares are trading down a nickel to $17.56 after the utility company said it was drawing roughly $1 billion from a $3.2 billion credit agreement. CFO David Hauser says, “In light of the uncertain market environment, we made this proactive financial decision to increase [...]

September 30, 2008 More

Fifth Third Bancorp (FITB) $12.28 +34.80%

Fifth Third Bancorp (FITB, chart, volatility) shares are up 34% today, trading near $12.21 on optimism regarding recovery. Option volume is running near 5 times normal, with 51,000 contracts trading and nearly 90% of the volume involving puts. 61% of the activity tool place on the ISE and consists of vertical put spreads. Early in [...]

September 30, 2008 More

Atheros Communications Inc (ATHR) $23.06 +4.11%

Atheros Communications (ATHR, chart, volatility) calls are active. Shares of the Santa Clara, California semiconductor company are up 91 cents to $23.06 after Collins Stewart resumed coverage on the stock with a Buy rating and a $28 price target. The firm says the target market for Atheros’ products is growing and the company can grow [...]

September 30, 2008 More

Harley Davidson Inc (HOG) $36.07 -4.90%

Harley Davidson (HOG, chart, volatility) is seeing three times normal options trading volume. Shares of the motorcycle company are riding southward, down $1.76 to $36.17, despite big gains for the broader market. There is no news on the stock today. Sentiment in the options market is bearish as well. 20,000 puts and 11,000 calls have [...]

September 30, 2008 More

CurrencyShares Euro Trust (FXE) $141.14 -2.42%

The Currency Shares Euro Trust (FXE, chart, volatility) is down $3.57 to $141.08 after the euro fell “the most against the dollar since the introduction of the shared currency in 1999 as France and Belgium led a state-backed rescue of Dexia SA, the world’s biggest lender to local governments,” according to Bloomberg. The fund, which [...]

September 30, 2008 More
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