AUSTIN, Texas, Nov. 16, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Stockwinners.com.
Option trading was brisk on Tuesday, as traders adjusted positions ahead of Friday's November expiration. Merck & Co. (NYSE:MRK) call options were in demand, as players expected shares of the pharmaceutical concern to head higher after getting hammered due to its Vioxx recall. Stockwinners.com Active Traders page reported the purchase of 14,000 contracts of the December $30 call while another 15,000 contracts of the December $32.50 call options were bought. It appears that some short-covering in the stock is expected. At last check, shares of Merck were up $0.39 to $27.48.
Apartment Investment & Management Company (NYSE:AIV) call options were in demand in the afternoon session. At one time, Active Trader page reported purchase of 13,200 contracts of the December $35 call options for about $4.42 million, a strong bullish move. At the time of the transaction, shares were down 2 cents at $38.13.
Delta Air (NYSE:DAL) call options were being sold in a defensive move as crude oil rebounded from its recent sell-off. A trader sold 8,000 contracts of the January $7.50 call options for $800,000. At last reading shares were down 18 cents to $7.32.
Altera Corporation (NASDAQ:ALTR) put options were in demand. A mid-afternoon trader purchased 5,000 contracts of the January $22.50 put options for $550,000, a bearish move. At last check, shares were up 10 cents to $23.37
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