Thursday Options Recap
Frederic Ruffy submits: SentimentStocks are mixed in a day of slow market action Thursday. The underlying tone of trading was positive at the open after the Labor Department reported that filings for jobless benefits fell by 17,000 to 421K in the first week of December. Economists were looking for a decline of about 9,000. Steady trading in Europe and in the bond pits seemed to help keep a floor under stock prices in early action as well. From there, trading has been very narrow and without much volatility. The Dow Jones Industrial Average has traded in an 80-point range and is down 23 points heading into the final forty minutes. The NASDAQ has added 5.6. The CBOE Volatility Index (.VIX) slipped .23 to 17.51. Options volume is lighter than recent days and reflects the bullish underlying sentiment that has resurfaced during the month of December. 7.4 million calls and 5 million puts traded so far.Bullish FlowSirius XM Rario (SIRI) adds 7 cents to $1.39 and some serious call buying is seen in the name Thursday. 38000 contracts traded so far, which is 3X normal and compares to put volume of 8,130 contracts. May 1.5 calls are the most actives. 7,625 traded (79 percent Ask). Jan 1.5, Jan12 $1, and Jan12 $2 calls are busy as well. Shares, which traded lower yesterday after the company's CFO said no share buybacks till second quarter of 2012, are up today after radio show host Howard Stren agreed to extend his contract five more years. Complete Story »
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