Never worked the gap and reached new lows...
Wahhh, but can RMDY hold here?
check this option foil out and let me know what YOU think.
from Schaeffers options:
10/4
2:58:57 PM
Remedy (RMDY ) 16-9/16) makes help-desk software. The company's clients
include eBay,
Nike, and Minnesota Mining & Manufacturing. On July 26, the equity plunged
roughly 20 points,
or nearly 45 percent, on several brokerage downgrades following a
second-quarter earnings
announcement. The firm topped analysts' estimates in terms of earnings per
share, but failed
to meet revenue projections.
Since that fateful day over two months ago, RMDY has failed to overcome
this bear gap and
declined to a new annual low yesterday. The equity is continuing to trade
below all significant
short-term and long-term moving averages.
Today, RMDY is seeing some notable activity in the options pits, as the
equity's October 15
put is the most-active put trading today on the CBOE. Exactly 10,000
contracts have traded at
this strike, which was previously home to only 2,000 contracts. Just
before 11:30 a.m., blocks
of 9,000 and 1,000 contracts traded in rapid succession. The larger block
was executed between
the bid and the ask prices, while the 1,000-contract block traded off the
ask. Additionally, 2,000
contracts have changed hands on both the October 17-1/2 and October 25
puts. Call activity is sparse today.
And the option print shows the numbers:
REMEDY CORPORATION
(RMDY ) 16 15/16 -5/16
Symbol Last Time Net Bid Ask Open High Low Close Vol
RMDY 16 15/16 11:52 -5/16 17 17 3/16 16 51/64 17 16 1/2 17 1/4 58500
Oct 2000
Call Last Net Bid Ask Vol Open
Interest Strike Put Last Net Bid Ask Vol Open
Interest
.LRQJC 2 5/16 2 11/16 15 .LRQVC 1/2 -1/4 3/16 7/16 10000
2100
.LRQJW 15/16 -1 1/4 15/16 1 3/16 500 16 17.5 .LRQVW 1 1/2 +1/2 1
3/8 1 5/8 2000 20
.LRQJD 7/16 -9/16 1/4 1/2 8 89 20 .LRQVD 3 1/4 3 3 3/8 1704
.LRQJX 1/4 1/4 105 22.5 .LRQVX 6 5/8 +2 1/4 5 1/8 5 5/8 10
3566
.LRQJE 1/16 1/4 512 25 .LRQVE 7 5/8 +2 7 5/8 8 1/8 2000 2000
Nov 2000
Call Last Net Bid Ask Vol Open
Interest Strike Put Last Net Bid Ask Vol Open
Interest
.LRQKC 3 3 3/8 15 .LRQWC 1 7/8 1 1/8 2
.LRQKW 1 7/16 -1 1/8 1 13/16 2 1/16 100 4 17.5 .LRQWW 2 5/16 +13/16
2 2 3/8 1 8
.LRQKD 1 5/16 1 1 1/4 65 20 .LRQWD 3 1/4 3 5/8 4 60
.LRQKX 1 5/16 7/16 11/16 5 22.5 .LRQWX 5 1/2 6
.LRQKE 1 1/8 1/8 3/8 3 25 .LRQWE 7 3/4 8 1/4
It is interesting to note the OBV shoot up at the time of the option transaction. A complex Buy trade?or simple Put sell. |
