You're very welcome, my friend.
:o)
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In case the earlier link didn't show up...
#reply-18882863
schaeffersresearch.com
>>> Schaeffer's Midday Options Update for Thursday: Pessimism Building on Emulex Ahead of Earnings
By Jocelynn Drake (jdrake@sir-inc.com)
4/24/2003 1:18 PM ET
Emulex (ELX: sentiment, chart, options) is making an appearance on our most-active put lists this afternoon, with more than 4,100 contracts changing hands at its May 20 strike.
It's likely that the majority of the volume will translate into new positions, as open interest on this strike sits at just 2,554 contracts.
Pessimism toward the shares has been rising recently.
The security's Schaeffer's put/call open interest ratio has jumped from 0.46 on April 16 to its current reading of 0.71.
This reading is higher than 58 percent of those taken over the past 52 weeks.
Options players are lining up ahead of tonight's earnings report.
The Street expects the company to report a profit of 21 cents per share, which is better than the 16 cents per share reported for the same period a year ago.
According to Yahoo! Finance, the firm has met or surpassed the consensus forecast for the past four quarters.
Technically speaking, the shares have been climbing along support at their 10-day and 20-day moving averages since mid-March. However, ELX is facing resistance at the 25 level. This area halted the equity's rally attempts in November and January. This region is also the site of the stock's 20-month moving average. ELX has not enjoyed a monthly close above this trendline since January 2002. A positive earnings report and/or strong guidance for the next quarter could help to boost the shares above resistance.<<< |
