Science & Technology
Science and Technology
Science and Technology
Fri, February 20, 2009
Thu, February 19, 2009
Schaeffer's Option Skews: Relatively Heavy Call Activity on Research in Motion Limited, Cisco Systems Inc, and MBIA Inc
CINCINNATI--([ BUSINESS WIRE ])--Research in Motion Limited (NASDAQ: RIMM), Cisco Systems Inc (NASDAQ: CSCO), and MBIA Inc (NYSE: MBI) were among the stocks with a skew toward call buying on Wednesday.
Shares of Research in Motion lost nearly 6% yesterday but more than 6,800 calls were bought. This suggests that some may be looking for a rebound. A look to the chart shows the shares were recently rejected at resistance near 60 and are in short-term downtrend.
The bullish bets on Cisco Systems are somewhat curious as there appears to be little going on with the stock. The chart is quiet and earnings were out earlier this month. One thing to note though is that the sentiment profile shows the majority of analysts are still bullish. The shares would need to overtake resistance near 18 to break the current trading range. However, as it stands now, the equity is nearer to the low end of the range. A move below 14.20 would break the lower boundary and mark a new annual low.
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