Option Activity for Ford Motor Company (F)
Tuesday, June 29, 2010



Put traffic has picked up on Ford Motor Company (F) today, with roughly 55,000 puts traded by midday -- triple the stock's usual daily put volume of just 17,000 contracts.

The July 9 put has been most popular today, with 14,129 contracts traded -- 82% at the bid price, suggesting they were sold. With today's volume exceeding open interest at this strike, it seems a portion of these puts were sold to open. In other words, traders are counting on F to remain above the $9 level in the next few weeks.

F-option-june29,2010



One strike lower, 8,369 contracts have traded on the July 8 put -- most at the bid price. There are roughly 2,300 contracts currently open at this strike, revealing these puts are newly added. F has not closed beneath $8 since late 2009.

Technically speaking, F has been in a downtrend lately and today slipped beneath round-number support at the $10 level. This level is also the site of its 10-month moving average, which has supported F since April 2009.

F-june29,2010



In the past month, short interest spiked by 3.3%, and now accounts for a significant 10.1% of F's total available float. Should F regain long-term trend line support, this healthy supply of sideline cash could help send F higher.

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