AUSTIN, Texas, Nov. 9, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Stockwinners.com.
Option trading was brisk on Tuesday, as traders adjusted positions ahead of the FOMC meeting. Lennar Corporation (NYSE:LEN) call options were in demand, as players expected shares of the homebuilding concern to find support around their 30-day moving average. The Stockwinners.com Active Traders page reported the purchase of 4,000 November $40 call contracts for $2.1 million and 6,000 December $40 call contracts for $3.48 million. At last check, shares of Lennar were up $1.02 to $44.57.
Cisco Systems (Nasdaq:CSCO) call options were being sold ahead of the company's quarterly earnings report. At one time, Active Trader page reported sale of 10,000 contracts of November $20 call options on the networking giant for about $550,000, a defensive move. At last check, Cisco shares were down 14 cents to $19.84.
JC Penney Company (NYSE:JCP) call options were also being sold, in another defensive move. A mid-morning trader sold 8,000 contracts of the December $37.50 call options for $1.92 million. At last reading shares were down 14 cents to $38.73
In addition to daily option block traders, Stockwinners.com Active Traders page continuously deliver information for traders to use and improve their trading results. A feature that has proven to be very popular is a list of stocks that have been heavily shorted and could offer a 'short-squeeze' opportunity. One recent such posting was TravelZoo (Nasdaq:TZOO). The issue was featured on Friday as a possible 'short-squeeze' candidate. On Monday, shares soared more than $7. The stock is expected to continue its upward move. At last check, shares were up $3.62 to $100.25. Free two-week on-line trial subscriptions to the STOCKWINNERS.com service are available at http://www.stockwinners.com/info/first_time.html.
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