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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (32050)	2/23/2002 10:18:29 AM
From: AllansAlias	Read Replies (1) of 209892

Remember I commented on those big option blocks on JNPR after the open yesterday? Here's something Schaeffer mentioned last night: Juniper Networks (JNPR - 9.64) has been depreciating rapidly for the past two months, dropping 65 percent since mid-December and sinking below all of its moving averages. Some options players look for this decline to continue, as nearly 50,000 contracts crossed the tape on the April 7.50 put Thursday. Ultimately, over half of these translated as new positions, boosting open interest at this strike from 2,209 to 37,701 contracts. Many large blocks traded at or near the bid price during the last 90 minutes of trading. The volume included a block of 9,000 contracts and one of 6,800 contracts. Schaeffer's put/call open interest ratio jumped considerably higher, surging from 0.59 to 1.09 as a result. This sentiment indicator is now near an annual high.

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