Hi PQ, Option Action on JBL from Schaeffer's........
March 04, 2003 11:26
Schaeffer's Option Activity Watch Features GE, JBL, and MO
CINCINNATI, March 4 /PRNewswire/ -- Today's Schaeffer's Option Activity Watch features General Electric (NYSE: GE), Jabil Circuits (NYSE: JBL), and Altria Group (NYSE: MO). The Option Activity Watch is a report that takes a closer look at three equities appearing in our most unusual option activity report from the previous day. The Option Activity Watch is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. For additional information about this report or to have it delivered to you free via email every day click on the following link: schaeffersresearch.com .
(Photo: newscom.com )
Schaeffer's Option Activity Watch:
1. Business conglomerate General Electric (NYSE: GE) continues to fall ..................
Click the following link to see the Weekly Chart of GE since March 2002 with 10-week and 20-Wek Moving Averages schaeffersresearch.com .
2. Optimism is building toward Jabil Circuit (NYSE: JBL). Its April 20 call added roughly 2,500 contracts overnight. What's more, calls nearly double puts in the front three months of options with an SOIR of 0.56. This reading is lower than 74 percent of those taken over the past year. Short interest for JBL also plunged 22 percent over the past month to 6.5 million shares. The opinion of brokerage firms is somewhat skeptical, with 11 analysts rating it a "buy" or better, 13 rating it a "hold," and one rating it an extremely rare "strong sell." JBL recently turned higher and is enjoying the support of its 10-day and 20-day moving averages. However, the road ahead isn't all wine and roses. Staunch resistance resides overhead at the 17.50 level. This area is home to peak front-month call open interest with 6,500 contracts. The 17.50 region is also the site of a 50-percent retracement of the equity's decline from January's peak (at 20.49) to February's low (at 14.51). JBL is also being capped by its declining 10-week moving average.
Click the following link to see the Weekly Chart of JBL since January 2003 with 10-Week Moving Average: schaeffersresearch.com .
3. Call trading was also brisk at Atria Group's (NYSE: MO) April 42.50 call on Monday. This out-of-the-money option..................
Click the following link to see the Daily Chart of MO since November 2002: schaeffersresearch.com .
The best way to take advantage of the timely commentaries from SchaeffersResearch.com is to sign up to receive their e-newsletters - Opening View, Midday Report, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day: schaeffersresearch.com .
About Schaeffer's Investment Research ( www.SchaeffersResearch.com )
Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, www.schaeffersresearch.com, is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: www.schaeffersresearch.com/method .
Contact: Tom Godich of Schaeffer's, +1-513-589-3800, pressrelease@sir-inc.com .
SOURCE Schaeffer's Investment Research
/CONTACT: Tom Godich of Schaeffer's, +1-513-589-3800,
pressrelease@sir-inc.com /
/Photo: newscom.com
AP Archive: photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/
/Web site: schaeffersresearch.com /
(GE JBL MO) |
