Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: Michail Shadkin who wrote (5251)	8/16/2001 1:55:51 PM
From: 2MAR$	Respond to of 6873

U.S. Options-Marvell Aug calls rolled to higher strike CHICAGO, Aug 14 (Reuters) - Soon-to-expire August calls were rolled up to a higher strike price on Tuesday in options on broadband communications products maker Marvell Technology Group Ltd. <MRVL.O> just ahead of earnings and options expiration this week. By late afternoon, roughly 10,590 Marvell Technology calls and 525 puts had changed hands on the four U.S. options exchanges combined. That compared with average daily options turnover during the last 20 trading sessions of some 1,150 contracts, using Track Data figures. It also was the highest one-day options volume this year. "A trader rolled from the 25s up to the 30s," said an options specialist at the American Stock Exchange, where the bulk of the calls changed hands. "He had rolled from the 22s to the 25s previously. So I think he's just rolling up. It could be partially an earnings play and partially a money (management) thing." An American-style call option gives its buyer the right to purchase the underlying stock at a specific strike price any time during the option's life. The move of the long August calls to a higher strike could suggest the customer expected the stock price to stay firm or rise further after the earnings release and before the August options stop trading Friday afternoon and expire on Saturday. Sunnyvale, California-based Marvell said it will release its fiscal second-quarter earnings on Aug. 16. It is expected to report it earned $0.03 per share, the same as during the year-ago period, according to analysts' consensus forecasts compiled by Thomson Financial/First Call. In those soon-to-expire August 25 calls, the Amex specialist said the customer sold to offset his long position. Combined interexchange volume totaled 4,000 contracts on open interest of 4,062, and those calls rose 70 cents to $7.40. The August 30 calls, which the customer bought to reset his long call position, rose $1.00 to $3.60 on interexchange volume of 6,012 and open interest of 4,062 contracts. Stock of Marvell Technology, which on Aug. 6 touched its highest levels since early February, rose 77 cents or 2.41 percent to close at $32.72 on the Nasdaq Tuesday. Volume was 1.23 million shares. ((Laura Jacobs, Chicago Derivatives Desk (312) 408-8750 chicago.derivatives.newsroom@reuters.com)) REUTERS