Stocks on the move
Real-time Equity news
U.S. stock market report
1652 ET 30Dec2009
Wall St ends a tad higher; Dow, Nasdaq at '09 highs
U.S. stocks ended a smidgen higher in very light trading on Wednesday as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1642 ET 30Dec2009 Traders favor near
term D.R. Horton calls
A number of option investors appear to be betting on more gains in the shares of homebuilder D.R. Horton Inc.
Bullish option order flow was detected as 6,318 DHI call contracts changed hands, more than double the recent average daily call volume, according to Trade Alert. Its shares rose 6 cents to $10.99. The January $12.50 calls have attracted the bulk of the flow with volume of 5,160 contracts vs. 4,687 contracts in open interest, Reuters data show. ISEE data on the International Securities Exchange is consistent with opening customer buyers, said WhatsTrading.com option strategist Frederic Ruffy. 'So, this appears to be speculative activity, perhaps looking for shares to move up before the January expiration,' he added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1556 ET 30Dec2009 Medivation draws notable straddle trade
Shares of biotech company Medivation Inc (MDVN) fell 34 cents to $38.20 near the close. Earlier in the session, an investor sold 10,000 Feb $35 so-called straddles for $6.25, bought 7,800 June $15-$25 put spreads at $4.90 and purchased 400,000 shares at $38.60, said WhatsTrading.com option strategist Frederic Ruffy. The put spread might be a closing position. The straddle trade appeared to be an opening position on expectations that the stock will drift towards $35 through the Feb expiration, then possibly see some volatility from that point forward, he said. Ruffy also noticed a volatility skew between February (60 percent) and June (122 percent) which hints at possible pending news between those two expirations.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1437 ET 30Dec2009 RTRS-US STOCKS
Wall St dips as investors reap profits
U.S. stocks edged lower on Wednesday as investors took profits in some of the year's better performers, offsetting a much better-than-expected report on Midwest business activity.
Companies including Microsoft Corp, which is up 59 percent since the year's start, was among the biggest drags on the Dow and the Nasdaq. The stock slipped 1.6 percent to $30.88.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1404 ET 30Dec2009 Origin Agritech gets flurry of call activity
Shares of Origin Agritech Ltd jumped more than 27 percent to $12.32 after the Chinese supplier of crop seeds announced it completed a second notes repurchase agreement with Citadel Equity Fund. The news fueled a flurry of call option activity with about 26,000 calls traded, more than twice the number of puts and double the combined average daily volume in the afternoon session, according to Trade alert.
Last month the stock rose to about $15 after the Chinese government said it would work with the company to grow genetically modified corn and rice, said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in a note.
The January $10, $11, $12.50 and $15 call strikes today were among the most popular contracts.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1150 ET 30Dec2009 Players eye puts,YRC Worldwide again extends debt swap offer
Shares of trucking company YRC Worldwide fell 1.94 percent to $1.01 near midday after the company said it would again stretch the deadline on a crucial debt-for-equity swap offer as it and its union workers push banks and bondholders to help keep the company afloat. For details, see. In the options market, about 35,000 puts and 3,222 calls traded so far in YRC, double the combined average daily volume, according to Trade Alert. Most of the action was in the January $1 put strike where 27,643 contracts traded vs. open interest of 25,611 contracts, Reuters data show. Recent trades include a sweep of 8,000 contracts at 40 cents per contract, said WhatsTrading.com option strategist Frederic Ruffy. ISEE data on the International Securities Exchange indicate an opening customer buyer. In fact, a majority of the YRCW puts traded on the ISE, or 12,000 contracts, are opening customer buyers, he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time Equity news
U.S. stock market report
1652 ET 30Dec2009
Wall St ends a tad higher; Dow, Nasdaq at '09 highs
U.S. stocks ended a smidgen higher in very light trading on Wednesday as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1642 ET 30Dec2009 Traders favor near
term D.R. Horton calls
A number of option investors appear to be betting on more gains in the shares of homebuilder D.R. Horton Inc.
Bullish option order flow was detected as 6,318 DHI call contracts changed hands, more than double the recent average daily call volume, according to Trade Alert. Its shares rose 6 cents to $10.99. The January $12.50 calls have attracted the bulk of the flow with volume of 5,160 contracts vs. 4,687 contracts in open interest, Reuters data show. ISEE data on the International Securities Exchange is consistent with opening customer buyers, said WhatsTrading.com option strategist Frederic Ruffy. 'So, this appears to be speculative activity, perhaps looking for shares to move up before the January expiration,' he added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1556 ET 30Dec2009 Medivation draws notable straddle trade
Shares of biotech company Medivation Inc (MDVN) fell 34 cents to $38.20 near the close. Earlier in the session, an investor sold 10,000 Feb $35 so-called straddles for $6.25, bought 7,800 June $15-$25 put spreads at $4.90 and purchased 400,000 shares at $38.60, said WhatsTrading.com option strategist Frederic Ruffy. The put spread might be a closing position. The straddle trade appeared to be an opening position on expectations that the stock will drift towards $35 through the Feb expiration, then possibly see some volatility from that point forward, he said. Ruffy also noticed a volatility skew between February (60 percent) and June (122 percent) which hints at possible pending news between those two expirations.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1437 ET 30Dec2009 RTRS-US STOCKS
Wall St dips as investors reap profits
U.S. stocks edged lower on Wednesday as investors took profits in some of the year's better performers, offsetting a much better-than-expected report on Midwest business activity.
Companies including Microsoft Corp, which is up 59 percent since the year's start, was among the biggest drags on the Dow and the Nasdaq. The stock slipped 1.6 percent to $30.88.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1404 ET 30Dec2009 Origin Agritech gets flurry of call activity
Shares of Origin Agritech Ltd jumped more than 27 percent to $12.32 after the Chinese supplier of crop seeds announced it completed a second notes repurchase agreement with Citadel Equity Fund. The news fueled a flurry of call option activity with about 26,000 calls traded, more than twice the number of puts and double the combined average daily volume in the afternoon session, according to Trade alert.
Last month the stock rose to about $15 after the Chinese government said it would work with the company to grow genetically modified corn and rice, said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in a note.
The January $10, $11, $12.50 and $15 call strikes today were among the most popular contracts.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1150 ET 30Dec2009 Players eye puts,YRC Worldwide again extends debt swap offer
Shares of trucking company YRC Worldwide fell 1.94 percent to $1.01 near midday after the company said it would again stretch the deadline on a crucial debt-for-equity swap offer as it and its union workers push banks and bondholders to help keep the company afloat. For details, see. In the options market, about 35,000 puts and 3,222 calls traded so far in YRC, double the combined average daily volume, according to Trade Alert. Most of the action was in the January $1 put strike where 27,643 contracts traded vs. open interest of 25,611 contracts, Reuters data show. Recent trades include a sweep of 8,000 contracts at 40 cents per contract, said WhatsTrading.com option strategist Frederic Ruffy. ISEE data on the International Securities Exchange indicate an opening customer buyer. In fact, a majority of the YRCW puts traded on the ISE, or 12,000 contracts, are opening customer buyers, he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.