AUSTIN, Texas, Aug. 22, 2002 (PRIMEZONE) -- Equity options traded at a brisk pace on Thursday, as traders staked out new positions and hedged against recent gains.
In a move reported by Stockwinners.com ActiveTraders editors, an early investor purchased 2,000 Tyco International (NYSE:TYC) October $20 call contracts, a bullish move. TYC shares subsequently rose more than four percent, in morning trading. Elsewhere, the ActiveTraders page reported that a morning player used strength in shares of Occidental Petroleum (NYSE:OXY) to sell 5,000 December $30 call contracts. That trader apparently expected shares of the energy firm to flatten, or move lower.
Call options on shares of Cisco Systems (Nasdaq:CSCO) were also active. One participant bought more than 5,000 CSCO September $12.5 call contracts, expecting shares to head higher. Further, call options on Pharmaceutical HOLDRS (AMEX:PPH) were of interest to those in the bullish camp. One trader bought 6,000 October $80 call contracts. The issue was up by more than two percent, in mid-afternoon trading.
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