Wednesday, July 11, 2007

Options Screener 7/11

As always the above is provided for informational and educations purposes... not a recommendation to buy, sell, fold, spindle, etc.

Having said that, there are a few interesting things that pop out.

LEH calls... in dissecting activity, there was a lot of selling of the calls. If you look at the LEH put options chain, very active put buying in the Aug 70, 65 and 60 puts. Tied in with the theme of suggested bearishness in the financials is the activity in the BKX puts.

BDK puts have been increasingly more active in recent days. The stock was up over $2 today and last quarter BDK blew the door off of estimates. This is a 'keep it on the radar' situation. If you look at a chart, the stock ran into a brick wall at just under 100 in double top formation in early June. 21 day moving avg crossed below 60 day in mid June and is getting close to crossing below the 200 day.

Playtex (PYX) turned into a potential takeover play: UPDATE - Playtex shares jump after CEO cancels presentation. Be careful with these takeover extrapolations. It just may be that the CEO really had a scheduling conflict. Rumor mill stuff has been mostly junk.

NY Community Bancorp (NYB) also a takeover rumor mill name today. This is a bit more intriguing since stock was down 9 cents while Aug 17.5 calls rose 10 cents on volume that eclipsed previous open interest. Implied volatility also rose.

A quick note on Abbott Labs (ABT): GE, Abbott Abandon Diagnotics Deal. That's going to leave a mark for call holders. There was virtually no put activity in ABT today. The news comes as a huge surprise.

Disclosure: I hold no position in anything I write about. Big fan of Abbott & Costello.

No comments: