SEBL Looking Up, AVCI Looking Down?
If you were looking for bullish
moves, try on Cisco Systems Inc.
(
CSCO |
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PowerRating) for size. The 8:1 $ weighted
call-to-put ratio is pretty telling, but the 40,000 Feb 35 calls trading between
the CBOE and the AMEX represent some of the heaviest call accumulations we’ve
seen in quite a while.
Other notable ratios include Microsoft Corp.
(
MSFT |
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PowerRating) and Siebel
Systems
(
SEBL |
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PowerRating). MSFT call volume just started picking up in the past
hour, but there has been steady, heavy buying of calls in SEBL. Particularly,
the FEB 60s (1500 trade at the CBOE) and the FEB 70s (3000 trade also at the
CBOE).
We’re also following the action in TyCom
(
TCM |
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PowerRating) and Avici Systems
(
AVCI |
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PowerRating), as both have significant amounts of shares available for sale
as their lock-up agreements are expiring.
AVCI traded up to 32 7/8 this morning, but has fallen down to 30 1/2 now (11:45
CST). There appear to be lots of interested put buyers and call sellers in its
options (QYV). AVCI comes off its lock-up tomorrow, so perhaps the action
signals a move back to the $18.50 – $20 range it hit two weeks ago.
Real-Time Highest Dollar-Weighted Put/Call Ratios:
