Wednesday November 4, 09:03 PM
STOCKS NEWS US-Lowe's option plays suggest bullish view
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1539 ET 04Nov2009 Lowe's recent
option plays suggest bullish view
------------------------------------------------------------------------------
Shares of No. 2 U.S. home improvement chain Lowe's Cos Inc rose 14
cents to $19.59 near the close. Several option plays suggest a bullish view
ahead of its earnings expected on Nov. 16, said independent options trader
Steve Smith. In one trade, it appeared that one investor believes the shares
will hold their ground in the next few weeks and sold 14,000 November (Frankfurt: A0Z24E - news) puts at
the $18 strike for 20 cents. This premium sale follows Tuesday's more bullish
and less risky action, which saw aggressive call buying after UBS (Virt-X: UBSN.VX - news) initiated a
buy rating on the stock. In all, about 15,000 puts and 7,623 calls changed
hands on combined volume that was double the average daily turnover, according
to Trade Alert.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
