Jack: don't f*** around with the info. - post all of it, not just your bear cut-out. People like you piss me off!
For all: here's is the whole news on IO and its move up. Unlike the impression you likely got reading Jack's bear cut-out, the article is rather positive.
News Alert from Reuters via Quote.com
Topic: Iomega Corp
Quote.com News Item #1224643
Headline: U.S. OPTIONS FOCUS/The Iomega chase continues
======================================================================
CHICAGO, Sept 26 (Reuter) - The Iomega Corp (NASDAQ:IOMG) chase
continued on Thursday as the stock was well on its way to its
seventh consecutive gain and options investors kept up with the
heavy activity, traders said.
By 1045 CDT (1545 GMT) Iomega shares were up 2-1/4 at
26-3/8, just off their session peak of 27. About 13.4 million
shares changed hands.
Traders said the stock, which a week ago was trading around
14, was being driven higher by some bullish analyst comments,
the stock's high short interest and momentum players jumping on
the bandwagon.
"Everybody's chasing it," said one options analyst.
A trader said one analyst had put a target of 29-32 for
Iomega shares.
"Ever since then it keeps going up," he said. "I don't know
if they're calling in the stock on the shorts, but if they do,
it's just going to keep going."
The stock's big move began last week when the company said
its Zip drive would be fully bootable.
But the stock is not on everyone's buy list.
"A month from now you're going to read a story about how
writeable CD-roms will replace Zip drives and the stock will
fall 50 percent," said Larry McMillan of McMillan Analysis
Corp.
A trader on the floor of the Chicago Board Options
Exchange, one of four exchanges where Iomega options trade,
said investors were playing both the calls and puts.
"People who have the stock are selling calls against it and
people who are short the stock are buying calls," he said.
He added that Iomega option volatilities on Thursday eased
from the prior two days. He said volatility rose from around 78
to 110 but was back down to around 100.
The October 25 call, with cumulative volume of 5,170
contracts, was the most active overall. Its open interest was
3,340.
On the put side, the October 25 traded a total of 3,180
contracts and the October 20 traded about 2,535.
--Gregory Crawford, derivatives desk, (312) 408-8750
E-mail: derivatives@reuters.com
"Today's not as frantic as yesterday or the day before," he
said.
On the CBOE, the Iomega calls were busy from October
through February and even a couple of the May options.
The most active option was the October 30 call, which
traded 1,660 contracts.
That option, with open interest of 154, traded around 2,400
contracts on the American Stock Exchange. It traded 50
contracts on the Philadelphia Stock Exchange and 129 on the
Pacific Stock Exchange.
Regards all, Erik. |
