Archive for November 2nd, 2009

XLF: High June-2010 Options Trading (XLF)

There was elevated options activity in the Financial Select Sector SPDR (NYSE: XLF) June put action is picking up as financials sell off and 253,000 puts trade against 81,000 calls in the ETF.  Large trades include a 20,000 contract June $11/$10 put spread and a buyer of 20,000 June $14 puts.  March $14/$11 ratio put [...]

FAZ-FAS Near Extreme Volume Alert (FAZ, FAZ)

With the blow-up of CIT Group and the drop out of the junkier financial stocks today, it may be of little surprise that the triple leverage financial ETFs are seeing a surge in trading volume.  The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) has whipped around throughout the day.  Ditto for its anti-twin Direxion [...]

Stock/Option Alert: R-I-M (RIMM)

Research-in-Motion Ltd. (NASDAQ: RIMM) shares are weak in a strong tape, down 5.4%, due to a downgrade to Sell at Citigroup.  Implied volatility is up 10% on the day and option traders are active with 93,000 calls and 59,886 puts trading just two hours into trading.  The volume has already surpassed the average daily volume [...]

Motorola Fans Come To Rescue (MOT)

Motorola Inc. (NYSE: MOT) is trading up rather well today.  Citigroup raised its to BUY from HOLD as part of the same call where R-I-M was downgraded this morning. Barron’s noted that Motorola recently offered a bright outlook for the final months of this year and prepared to roll out two smartphones based on Google’s [...]

Dendreon Rocks Up on Filing (DNDN)

Dendreon Corp. (NASDAQ: DNDN) is trading higher on word from the company that it has filed its new drug application with the FDA for PROVENGE to treat prostate cancer.  The notion of the filing is not new, although many were not expecting this filing to be submitted until later in November or in December.  At [...]

Ford Shows Earnings, Really (F)

Ford Motor Co. (NYSE: F) is soaring on the company’s earnings report showing that the only non-bailout car company made $1 billion in the third quarter. It reported net income of $997 million, or $.28 per share, an improvement of $1.2 billion from the third quarter of 2008. Pre-tax operating profit totaled $1.1 billion, an [...]

CIT Group Chapter 11 (CIT)

CIT Group Inc. (NYSE: CIT) is down sharply on the common stock after the company did go ahead and file a pre-packaged bankruptcy protection.  Shares traded are only 380,000 at 8:35 AM EST although it appears that there are no specialist shares trading hands.  We have the stock down 42% at $0.418 after closing at [...]

Human Genome Sciences Hitting Multi-Year Highs (HGSI)

Human Genome Sciences, Inc. (NASDAQ: HGSI) is soaring after its expected study results showed that its second round of Phase II data showed that the Benlysta lupus drug was very effective at higher doses.  The lower doses did not show as much improvement, although this is due to the notion that there have been no [...]