AUSTIN, Texas , Nov. 11, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Stockwinners.com.
Option trading was brisk on Thursday, as traders adjusted positions ahead next week's November expiration. Allstate Corporation (NYSE:ALL) call options were in demand, as players expected shares of the insurance concern to continue to head higher after setting a new 52-week high. The Stockwinners.com Active Traders page reported the purchase of 5,000 January $50 call contracts for $5.7 million. At last check, shares of Allstate were up $0.92 to $50.50.
Broadcom Corp. (NASDAQ:BRCM) call options were also demand in the morning session. At one time, Active Trader page reported purchase of 3,800 contracts of December $25 call options on the chip maker for about $1.29 million At the time of the transaction, shares were up 35 cents. At last check, Broadcom shares were up 67 cents to $27.86.
Alcoa (NYSE:AA) call options were also in demand, in another bullish move. A mid-afternoon trader bought 5,900 contracts of the January $32.50 call options for $1.21 million. At last reading shares were up 27 cents to $33.43
In addition to daily option block traders, Stockwinners.com Active Traders page continuously delivers 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 W.R. Grace (NYSE:GRA). The issue was featured on Wednesday at $13.00. At last check, shares were up $0.56 to $15.04. Free two-week on-line trial subscriptions to the STOCKWINNERS.com service are available at http://www.stockwinners.com/info/first_time.html.
Stockwinners.com, Inc. is not a registered broker dealer or a registered investment adviser. No information accessed through the Stockwinners.com, Inc. Web site, or any link contained on the Stockwinners.com, Inc. Web site, constitutes a recommendation by Stockwinners.com, Inc. to buy, sell or hold any security, financial product, or instrument discussed therein. Information accessed through linked sites neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy or sell securities by Stockwinners.com, Inc. Stockwinners.com, Inc. may or may not hold positions in securities being discussed in this news release and/or mentioned on the Stockwinners.com, Inc. Web site. Investors shall be fully responsible for any investment decisions they make, and such decisions will be based solely on their evaluation of their financial circumstances, investment objectives, risk tolerance and liquidity needs. Investors are encouraged to consult with their registered broker and/or investment adviser before making any investment decision.