| 27-Dec-05 07:36 ET In Play Symantec Call Trading Persists As Investors Expect Stock to Rise - WSJ (SYMC) 17.26 : The WSJ reports that heavy trading in options on Symantec continued Friday, with the activity indicating that investors expect the Cupertino, Calif., Internet-security company's stock to make gains in the coming weeks and months. On Friday, more than 12,600 Symantec calls traded; on Thursday, the activity was a much heavier 27,861 calls. Activity was also heavier than usual on Monday, and all three are well above the average daily volume so far in December of 8,105 contracts a day. More specifically, with Symantec's shares at $17.26, Friday's activity was heaviest in the February 20 calls, which traded 7,206 contracts, compared with 5,180 previously outstanding and rose five cents to 25 cents on the American Stock Exchange. Frederic Ruffy, analyst at Optionetics, said "the heavy volume in the out-of-the-money calls appears to be speculative activity in anticipation of a move higher in Symantec." He added, "There has been no news to explain the sudden interest in the calls, however." |
