Stocks trading down again today

Real-time equity news [U E]
U.S. stock market report [.N]

1450 ET 6Oct2010-Chipmakers down but SOX still on uptrend
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The PHLX semiconductor index <.SOX>, down 2 percent, was on track on
Wednesday to post its largest daily percentage drop since Aug. 30 as Xilinx Inc
and Altera Corp tumbled after a brokerage downgrade. For
details, see [ID:nN06111779]
But the index's uptrend, going back to the Aug. 30 lows, is still intact
from a technical point of view. The 14-day moving average, just above 342,
provided strong support, while separate trend lines show further support near
340 and 329.
Reuters Messaging: rodrigo.campos.thomsonreuters.com@reuters.net

1438 ET 6Oct2010-Call sellers emerge in Cirrus as shares fall
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Chipmaker Cirrus Logic Inc dropped 5.08 percent to $16.25 during
the afternoon session. In the options market, it appears that some investors
sold calls as the stock slide, said WhatsTrading.com options strategist
Frederic Ruffy. Overall options volume was 3.6 times the stock's daily average,
according to Trade Alert. About 25,000 puts and 3,594 calls traded in Cirrus by
2:31 p.m. EDT. The top trade is a lot of 342 November $14 calls on the $3 bid
as 2,484 contracts now traded, he said. The November $15 calls are the busiest
line as 3,412 changed hands with 81 percent of the volume on bid price. The Dec
$15, Nov $16, Dec $17.5, and Dec $16 calls are seeing interest as well. The
call selling helped push the stock's option implied volatility down 5 percent
to 57 percent.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1421 ET 6Oct2010-Citrix options volume swells as shares slump
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Citrix Systems shares tumbled 11.01 percent to $62.23 and is
falling in sympathy with data center services provider Equinix Inc ,
which issued a revenue warning late on Tuesday, said WhatsTrading.com options
strategist Frederic Ruffy. For details, see [ID:nSGE6950JIA] [ID:nSGE6940LF]
Overall options volume was 7.7 times greater than the stock's daily average
as about 33,000 puts and 34,000 calls traded in Citrix by 2:12 p.m. EDT,
according to Trade Alert. Option bears initiated near term strategies in
Citrix, which makes virtualization software, while the bulls positioned for an
intermediate term rebound by buying call spreads, said Interactive Brokers
Group options analyst Caitlin Duffy. Ruffy noted one trade included the
November $65-$70 put spread, apparently sold at $3.10 and might be a
liquidating position since both contracts are in-the-money. It also appears a
January 2012 $55-$75 bullish risk-reversal was initiated at a dime. The Dec
$65-$70 call spread was apparently bought at $2.20 and $2.15, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1301 ET 6Oct2010-Genzyme options trade looks for higher bid
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France's Sanofi-Aventis launched an $18.5 billion hostile bid for biotech
Genzyme Corp and its offering $69 a share, but traders are positioning
for that price to go higher, optionMonster said on its website. The firm's
tracking systems detected the purchase of more than 13,000 April $75 calls on
GENZ for $1.60 per contract against open interest of 1,283 contracts, said
optionMonster analyst David Russell. There was also buying in the October $75
strike calls for nine cents apiece, which could represent a cheap bet by an
investor that the takeover price will be raised this month, he added. Genzyme
shares rose 2 cents to $71.54 and have been moving in a tight range since the
Sanofi offer was made. Sanofi will eventually have to raise its offer, already
rejected by Genzyme a month ago, investors and analysts said after the tender
offer was announced on Monday. For details, see [ID:nLDE69302S]
[ID:nN04187598]
"Today's call buying is apparently the work of investors who think that
Genzyme will hold out for a significantly higher price," Russell said. In all,
about 29,000 calls and 2,000 puts traded in Genzyme by 1:01 p.m. EDT, according
to Trade Alert.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS



Real-time equity news [U E]
U.S. stock market report [.N]

1450 ET 6Oct2010-Chipmakers down but SOX still on uptrend
------------------------------------------------------------------------------
The PHLX semiconductor index <.SOX>, down 2 percent, was on track on Wednesday to post its largest daily percentage drop since Aug. 30 as Xilinx Inc and Altera Corp tumbled after a brokerage downgrade. For
details, see [ID:nN06111779]
But the index's uptrend, going back to the Aug. 30 lows, is still intact
from a technical point of view. The 14-day moving average, just above 342,
provided strong support, while separate trend lines show further support near
340 and 329.
Reuters Messaging: rodrigo.campos.thomsonreuters.com@reuters.net

1438 ET 6Oct2010-Call sellers emerge in Cirrus as shares fall
------------------------------------------------------------------------------
Chipmaker Cirrus Logic Inc dropped 5.08 percent to $16.25 during
the afternoon session. In the options market, it appears that some investors
sold calls as the stock slide, said WhatsTrading.com options strategist
Frederic Ruffy. Overall options volume was 3.6 times the stock's daily average,
according to Trade Alert. About 25,000 puts and 3,594 calls traded in Cirrus by
2:31 p.m. EDT. The top trade is a lot of 342 November $14 calls on the $3 bid
as 2,484 contracts now traded, he said. The November $15 calls are the busiest
line as 3,412 changed hands with 81 percent of the volume on bid price. The Dec
$15, Nov $16, Dec $17.5, and Dec $16 calls are seeing interest as well. The
call selling helped push the stock's option implied volatility down 5 percent
to 57 percent.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1421 ET 6Oct2010-Citrix options volume swells as shares slump
------------------------------------------------------------------------------
Citrix Systems shares tumbled 11.01 percent to $62.23 and is
falling in sympathy with data center services provider Equinix Inc ,
which issued a revenue warning late on Tuesday, said WhatsTrading.com options
strategist Frederic Ruffy. For details, see [ID:nSGE6950JIA] [ID:nSGE6940LF]
Overall options volume was 7.7 times greater than the stock's daily average
as about 33,000 puts and 34,000 calls traded in Citrix by 2:12 p.m. EDT,
according to Trade Alert. Option bears initiated near term strategies in
Citrix, which makes virtualization software, while the bulls positioned for an
intermediate term rebound by buying call spreads, said Interactive Brokers
Group options analyst Caitlin Duffy. Ruffy noted one trade included the
November $65-$70 put spread, apparently sold at $3.10 and might be a
liquidating position since both contracts are in-the-money. It also appears a
January 2012 $55-$75 bullish risk-reversal was initiated at a dime. The Dec
$65-$70 call spread was apparently bought at $2.20 and $2.15, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1301 ET 6Oct2010-Genzyme options trade looks for higher bid
------------------------------------------------------------------------------
France's Sanofi-Aventis launched an $18.5 billion hostile bid for biotech
Genzyme Corp and its offering $69 a share, but traders are positioning
for that price to go higher, optionMonster said on its website. The firm's
tracking systems detected the purchase of more than 13,000 April $75 calls on
GENZ for $1.60 per contract against open interest of 1,283 contracts, said
optionMonster analyst David Russell. There was also buying in the October $75
strike calls for nine cents apiece, which could represent a cheap bet by an
investor that the takeover price will be raised this month, he added. Genzyme
shares rose 2 cents to $71.54 and have been moving in a tight range since the
Sanofi offer was made. Sanofi will eventually have to raise its offer, already
rejected by Genzyme a month ago, investors and analysts said after the tender
offer was announced on Monday. For details, see [ID:nLDE69302S]
[ID:nN04187598]
"Today's call buying is apparently the work of investors who think that
Genzyme will hold out for a significantly higher price," Russell said. In all,
about 29,000 calls and 2,000 puts traded in Genzyme by 1:01 p.m. EDT, according
to Trade Alert.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS




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