Wednesday Options Screener: EMC, CHK, MOT
July 30, 2008 at 2:31 PMPosted by Thomas Catino
EMC Corp. (EMC) - call volume is going bizzerk and volatility is way up. The August $15 calls have traded 99,115 contracts, three times open interest of 35,424 and have nearly quadrupled intra-day to $.73. The 4.85% heavy volume move in the underlying coincides with a 6.5% move in VMware stock which has been searching for a bottom.
Chesapeake Energy Corp. (CHK) – trying to make a run. This oil and natural gas stock with sound fundamentals has been looking to bounce after pricing a 25 million share public offering recently at $57.25. There is some decent activity in the September calls with a strike price of $50 where 9,549 contracts have traded, almost triple the open interest of 3,312.
Motorola Inc. (MOT) – recently off its 52-week low of $6.62 and trying to put a bottom in at $7. The beleaguered cell phone company reports results for the second quarter tomorrow. The consensus analyst estimate calls for a loss of $.03 per share on $7.69 billion in revenue. There is some speculative nibbling that Motorola has seen the worst with volume in the August calls with a $8 strike of 13,820 contracts ahead of earnings.
Hey, I am new at Options trading, I have a question about EMC.
When you say $15 options are at high vol.
does that mean the stock will reach $15 on August 8th?
OR
Does that mean it will go above $15?
I know a option means you pay the price for the stock now and buy the
stock at $15 on August 18th.
Help with my question, Thanks very much.
You can reply on my blog or just reply here.
Thanks
It usually means that the option buyers think the stock will go higher
Wow, Motorola is in a tough spot. Hopefully the use of the Motorokr will help it out. If anything, at least we're getting free ringtones out of it.
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