Rochester, NY 7/14/2009 9:37:20 PM
EBAY - eBay Entices Pre-Earnings Put Writers
eBay Inc.
eBay Inc., EBAY
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Option bettors were bidding for EBAY puts with a vengeance on Thursday, according to the Zacks screener. By the closing bell, the security saw nearly 10,300 puts change hands, more than doubling its average single-session volume of fewer than 5,000 contracts. However, the preference for puts contradicts the recent trend on the International Securities Exchange (ISE). During the past couple of weeks, speculators on the ISE have bought to open almost 4x more EBAY calls than puts. What's more, compared to similar readings taken during the past year, the Internet issue's 10-day call/put volume ratio of 3.85 stands only six percentage points from an annual optimistic acme. In other words, option players on the exchange have rarely scooped up calls at a faster pace during the past 52 weeks.
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