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Titanium Metals Corp. (NYSE: TIE) is seeing severe options trading. The October $10 calls have traded more than 14,000 contracts with open interest of just 1,867 contracts as traders place large buy orders at the offer. The action comes a day after I recommended buying TIE on valuation due to comments from Boeing on the improving aviation forecast for 2011. Shares today broke above its 200 day EMA implying a move to at least $10.50 on the triangle breakout, and near an inverse head and shoulders breakout on the weekly. TIE is also often mentioned in takeover chatter. As of 12:55 PM EST the stock is up 6% at $9.41 and there have also been some 3.1 million shares that have traded hands. The 52-week range is $4.04 to $13.18 and the average volume is just under 3.2 million shares.
Joe Kunkle, OptionsHawk.com
General Electric Co. (NYSE:GE) is running up a second day on an analyst call as its price target was raised to $18 from $15 at Goldman Sachs. Shares are up over 2% at $14.81 on about 1.5 million shares as of 9:15 AM EST. This is a tiny fraction of the average volume for a full trading day but still is one of the more active movers this morning. Be advised that GE is now within striking distance of post-crash highs, which could signal a breakout of the stock closes up about 3% higher and holds that level.
Resistance Levels appear to be R1-$14.75, R2-$14.93, and R3-$15.07….
-JON OGG
VIVUS Inc. (NASDAQ: VVUS) is soaring on what is already exponential volume. The company’s interim update showed that patients taking Qnexa reduced their weight by up to 14.7% on average in one trial, and the drug also showed improvement in blood pressure and diabetes symptoms and risk factors. Vivus’ second study showed an average weight loss of about 13.2%. As far as how this compares to placebo, patients taking placebo lost less than 3% of their weight. As of 8:38 AM EST we have seen a gain of 50% at $10.33 and we have seen 3.6 million shares trade hands. Average volume is only about 750,000 shares and the prior 52-week high was $9.00. This will be a monster volume day for VIVUS. Be advised, this one does have call and put options on it. -JON OGG