EARNINGS are due out on Monday, July 17th. See:
7/13/00 - U.S. Options-Advanced Fibre vols steady
CHICAGO, July 13 (Reuters) - Implied volatility in options on Advanced Fibre Communications Inc. (AFCI.O) was steady amid mixed call and put
activity ahead of second quarter earnings expected on Monday, July 17.
Shares of the California-based telecommunications systems maker rose 2 to 54 on Thursday on Nasdaq market volume of about 1.4 million
shares.
The revised earnings consensus for Advanced Fibre's second quarter earnings is 10 cents per share, according to a survey of analysts by First
Call/Thomson Financial, which compiles brokerage estimates.
The company earned 6 cents a share in the same year-ago quarter.
Implied volatility for the at-the-money July 55 series stood at around 90 percent, about in line with Wednesday's levels, an options trader on the
American Stock Exchange said.
But he noted the volatility has been trending higher over the past few days. "It's the usual volatility pop ahead of earnings," he said.
One busy option is July 55 call on the Amex, which firmed 9/16 to 2-9/16 on Amex volume of about 259 contracts and open interest of 3,115 as
of 10:57 a.m. CDT (1557 GMT).
Thursday's options volume was normal but down from Wednesday's busy activity.
Early Thursday, options turnover totalled some 1,694 calls and 210 puts on the American Stock Exchange and Chicago Board Options
Exchange combined.
A total of 5,778 contracts traded on Wednesday, of which 5,083 were calls and 695 were puts, up from recent average daily volume of 2,252
contracts, according to McMillan Analysis Corp.
Rtr 12:29 07-13-00
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