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SPECIAL DISCOUNTED MEMBERSHIP RATES UNTIL JUNE 30, 2010
Options Activity for Wednesday,
June 23, 2010
Dendreon Corp. (DNDN)Dendreon Corp. (DNDN) was the center of some heavy options trading yesterday, as roughly 71,700 contracts changed hands. This jump in volume was more than double the equity's average daily trading volume of 28,092 contracts, according to data from WhatsTrading.com. In addition, approximately 53% of the volume changed hands on the call side.
Meanwhile, Wall Street is smitten with the shares, as 10 of the 14 analysts following the security rate it a "buy" or better. Any downgrades from this group could spell trouble for the equity.Technically speaking, the shares of DNDN have hit a speed bump. While the stock is up more than 31% since the beginning of the year, the security has turned sharply lower. Since reaching a peak near the 58 level, the equity has retreated, falling below key support at its 10-week and 20-week moving averages. These intermediate-term trendlines had guided the shares higher since March 2009.
DirecTV (DTV)Options activity was brisk on DirecTV (DTV) on Tuesday, as more than 52,300 contracts crossed the tape. This surge in volume was more than six times the stock's average daily trading volume of 8,123 contracts, according to data from WhatsTrading.com.Furthermore, approximately 53% of the volume changed hands on the call side.
Analysts also have bullish leanings when it comes to DTV. According to Zacks, the stock has earned 12 "buy" or better ratings and five "holds." From a technical perspective, the shares of DTV have put in a respectable performance, as the security has rallied more than 9% since the start of 2010. In fact, the stock has marched higher along its 10-week and 20-week moving averages since March 2009.
Nvidia (NVDA)Nvidia Corp. (NVDA) was the focus of some heavy options trading yesterday, as more than 46,700 contracts changed hands. This increase in volume was more than triple the equity's average daily trading volume of 13,602 contracts, according to data from WhatsTrading.com. What's more, roughly 76% of the volume changed hands on the call side. Call trading has surged higher on the security recently. The ISE reports that 10.5 calls have been purchased to open for every one put purchased to open during the past 10 trading sessions. This ratio of calls to puts is higher than 98% of all those taken during the past year, indicating a surge in optimism toward the shares.
On the other hand, Wall Street is giving the security the cold shoulder. According to Zacks, the stock has earned nine "buy" ratings, 16 "holds," and two "sells." However, considering the security's lackluster technical performance, it is unlikely to benefit from upgrades any time soon. In fact, if the remaining bulls begin to unload their long positions, the stock could suffer from additional losses.Technically speaking, the shares of NVDA are down more than 38% since the start of the year. After being stifled by staunch resistance at the 18 level for several months, the stock has headed lower under resistance at its 10-week and 20-week moving averages.
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