San Francisco Chronicle
Investors applauded the late-day announcement, bidding up shares more than 3 percent, or $17, in after-hours trading to about $547. ...
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International Business Machines Corp. (NYSE: IBM) is on deck for earnings this afternoon, and traders have begun their last minute bets by using call and put options. The OCT-2009 CALLS and PUTS expire tomorrow at the close, so these bets are right around the closest strike prices only. We have included the OCT-2009 CALLS and PUTS only along with trading volume and the listed open interest.
CALL$   Volume   OpInt
120.00Â Â Â 11,228Â Â Â 33,884
125.00Â Â Â 9,571Â Â Â 20,881
130.00Â Â Â 10,166Â Â Â 18,605
135.00Â Â Â 2,180Â Â Â 6,788
PUT$   Volume   OpInt
115.00Â Â Â 1,900Â Â Â 17,011
120.00Â Â Â 3,659Â Â Â 9,824
125.00Â Â Â 5,395Â Â Â 9,586
At 2:32 PM EST we have shares trading down 1.1% at $126.96 and trading volume in the stock is only about 5.5 million shares versus a full day’s trading volume of about 6.7 million shares. Because of its super high share price and because the Dow Jones Industrial Average is a price-weighted index, our take is that IBM is perhaps more crucial than any other component as far as whether this DJIA 10,000 level can hold.
JON C. OGG
Linktone Ltd. (Nasdaq: LTON) is surging on news that the wireless interactive entertainment company in China has entered into a mobile video agreement to make video highlights of Major League Baseball games available to customers in China with China National Radio Mobile Media (Beijing) Co. Ltd. This is traditionally a low volume stock with only about 62,000 shares trading per day. At 10:41 AM EST we have seen an exponential volume day with some 385,000 shares traded (6X volume) and the stock is up 20% at $2.50. JON C. OGG
Acorda Therapeutics, Inc. (NASDAQ: ACOR) is getting some of its lost mojo back. The company’s fampridine-SR for multiple sclerosis was given a favorable FDA panel review yesterday in a 12-1 vote in support of a future marketing approval for the drug. The stock was halted yesterday and FDA comments last week battered the stock. This morning we have a 54% gain to $25.90 after Tuesday’s $16.74 close. As of 8:46 AM EST we have seen a whopping 1.7 million shares trade hands, making this already an exponential volume alert versus 800,000 on average and the market is not even officially yet open.
JON C. OGG
OCTOBER 15, 2009