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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: marginmike who wrote (13682)7/22/2002 10:39:22 PM
From: verdad  Read Replies (1) of 19219
 
Are you just looking for a ST trade on RD?

July 18, 2002:
Royal Dutch Petroleum is making a rare appearance on the most-active put list this afternoon following some heavy volume across several exchanges. The stock's August 40 put has seen more than 22,000 contracts change hands so far today. The majority of this crossed three blocks of 5,000 contracts at a price of 1.05, which was between the bid and ask prices. We shall have to wait until tomorrow to see how much of this activity translates into new positions. Prior to today's trading, open interest for this put stood at 20,313 contracts.

Options players remain extremely pessimistic toward the shares, as the Schaeffer's put/call open interest ratio for RD checks in at 1.65. This reading is more negative than 99.6 percent of those taken over the past 52 weeks. In addition, the number of shorted RD shares rose 16 percent over the most recent reporting period to 7.8 million. However, all short positions can be covered in just over three days of trading at the stock's average daily trading volume. Technically speaking, the security hit a near-term low this week at 44.25 and has since been attempting to rebound. The shares still face potential resistance at their declining 10-day moving average
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