Tuesday September 15, 03:38 PM
STOCKS NEWS US-Expiration may move stocks with "pin" potential
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1010 ET 15Sept2009 Quarterly expiration
may move stocks with 'pin' potential
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This Friday marks the quarterly expiration of September equity options and
futures contracts and some volatility could occur as traders close or roll
their derivative positions.
As volume in the equity options market grows, 'pinning,' a stock closing at
or around its corresponding at-the-money option strike, has become a
significant factor, said Scott Fullman, director of derivative investment
strategy at WJB Capital Group. In a note, he cited 89 stocks that have pin
potential. These include discount-store operator Fred's Inc $12.50
strike, Restaurant operator Buffalo Wild Wings Inc (NASDAQ: BWLD - news) $40 strike,
consumer electronics seller Systemax Inc $12.50 strike and footwear
retailer DSW Inc $15 strike.
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