OptionsXpress (OXPS) sits near $10 per share and 2.7 percent off the lows of the day after Briefing ran an Insider Watch report that noted Chairman John Gray has been a buyer of shares since late Jan at prices ranging from $10.53 to $11.18, bringing his stake to 10.7 mln shares, or 18 percent of outstanding. The note also rehashed takeover talk, saying that there is a possibility OptionsXrpess could be involved in a merger since it has large cash balance representing $3.4 per share and no debt.
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Optionsxpress Holdings Inc (OXPS) $9.99 +0.30%
Posted on February 27th, 2009 2:16 pm
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2 users commented on " Optionsxpress Holdings Inc (OXPS) $9.99 +0.30% "
Follow-up comment rss or Leave a TrackbackThe market seems oblivious to Mr. Gray’s confidence – the stock is still trending down.
Tough time to be an online options broker. Although it seems that more and more investors are using options, volume growth is slowing a bit and the market is getting crowded with OptionsXpress, Tradeking, OptionsHouse, eOptions, Ameritrade, Etrade, and now TradeMonster all fighting for market share. ThinkorSwim seems to be doing the best thanks to its great software platform, but I think OXPS will be fine. They are developing good tools too and offer a lot of education at no charge.