Option Skews - Relatively Heavy Call Activity on Research in Motion Limited and Citigroup Inc

Here are the stocks that saw a bias toward call activity in the previous session. This filtered scan is based on the International Securities Exchange (ISE) buy-to-open data. It looks for stocks where the previous day's call volume on the ISE is at least twice as great as the put volume. It then sorts the stocks based on the call volume. Since this is buy-to-open data, this can be a good source for finding stocks where optimism is emerging. Of particular interest to me would be situations where we see call activity on stocks that are still in intermediate-term downtrends. This would be a potentially cautionary sign from the contrarian perspective.

Companies included in today's scan results: Research in Motion Limited (RIMM), Citigroup Inc (C), Motorola (MOT), Wal-Mart Stores Inc (WMT), General Electric (GE), CF Industries Holdings (CF), Denbury Resources (Holding) (DNR), Sears Holdings Corp (SHLD), Chesapeake Energy Corp (CHK), Pfizer (PFE), Southwestern Energy (SWN), Tenet Healthcare (THC), DryShips Inc. (DRYS), Barrick Gold (ABX), Cisco Systems Inc (CSCO), Kraft Foods (KFT), Walgreen (WAG), Intel Corp. (INTC), Biogen Idec Inc (BIIB), Petroleo Brasileiro SA (PBR), Genworth Financial Inc (GNW), Patterson Companies (PDCO), Alcoa (AA), McDonald's (MCD), Agnico-Eagle Mines (AEM) .

Research in Motion Limited and Citigroup Inc topped today's scan and both are situations I discussed last week -

• The daily chart of Research in Motion has continued to deteriorate from what I discussed Thursday. Secondary support near 60 has now been violated. The equity is oversold but rebound attempts now face multiple layers of resistance.
• I just looked at Citigroup on Friday but the daily chart warrants further attention. I have been tracking the shares as they bounced along support but yesterday's close left the equity flirting with a breakdown. I had expected the combination of oversold readings and support to bring out some bulls but so far none have materialized.

 Email to a Friend

 Del.icio.us

 Facebook

 Reddit

 Newsvine

 Digg

 Mixx