Wednesday, July 4, 2007

The Tuesday Options Screener

There aren't many on the list generated by my Screener from the shortened Tuesday session, but notice the HLT calls that traded. Just lucky guesses right? One of the things that I am going to be rolling out (and this Hilton options scam really solidifies the decision in my mind) is a web site that will level the playing field and won't cost thousands of dollars a year to subscribe to. This HLT activity is total BS and it's now clear that my home grown Scanner is a useful tool for sniffing these things out.

The Bristol Meyers (BMY) Aug 37.5 activity is interesting. There has been speculation that Sanofi (SNY) could be targeting B.M.S., but there's also been talk that BMY could be on the prowl as well for something in the pharma world.

The Juniper (JNPR) activity also evokes a little curiosity as well. (BIDU) calls were very active on Tuesday, but the rally fell apart mid way through the session. You'll need a cast iron stomach to play options in BIDU especially July's that expire in two weeks. There is, however, a .60 put to call ratio on BIDU options, meaning it's a bearish options crowd, probably signaling, in contrary indicator fashion, more room to the upside. Also interesting that on Friday more than 2x the normal options volume traded. I can't trade anything and if I could, would not be excited to go after July 200 calls - but to each his own even if this has the momentum of a heard of elephants.

Above presented for informational purposed only, not a recommendation to buy or sell anything.

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