Nothing Positive Means We Continue To Drift Lower
The
market continues to show weak internals, with put action dominating calls in
nearly every sector. Below, I have highlighted the heaviest dollar-weighted puts
in descending order.
Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) and Juniper
(
JNPR |
Quote |
Chart |
News |
PowerRating) were among the most interesting, as the big boys (girls, too) are
buying over 10 times as many dollar-weighted puts as they are buying calls in
either of those two names. Both networking stocks are trading lower, but our
signals are beginning to roll over for CSCO, indication of perhaps (bulls cross
your fingers) that the selling may be slowing, at least for CSCO.
| Symbol
|
Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
| EMC
|
14,697
|
9,675
|
18,201
|
178,116
|
| CSCO
|
15,167
|
11,408
|
19,292
|
177,783
|
| JNPR
|
2,780
|
4,604
|
4,828
|
117,632
|
| CMVT
|
1,696
|
3,307
|
3,220
|
78,291
|
| GLW
|
7,471
|
4,138
|
8,104
|
59,835
|
| VRTS
|
9,095
|
6,257
|
15,574
|
49,588
|
| BRCM
|
1,665
|
1,864
|
5,081
|
40,807
|
| PMCS
|
1,529
|
764
|
3,736
|
33,482
|
| CIEN
|
2,238
|
1,757
|
4,014
|
30,861
|
(1010WallStreet.com has licensed
the use of Hamzei Analytics proprietary options analytics)
About
the only bullish action we’re tracking is in AT&T
(
T |
Quote |
Chart |
News |
PowerRating), which is showing rather robust call buying at the July and August 20
strikes. Volatility for the past three months was just 33%, but we’re showing
an expansion to 45% in the past two days.
| Symbol
|
Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
| T
|
58,028
|
4,644
|
130,167
|
13,415
|
(1010WallStreet.com has licensed
the use of Hamzei Analytics proprietary options analytics)