Worldwide energy services company McDermott International, Inc. (MDR) sees its shares set a new 52 week low of $10.45 this morning and it looks like some option investors are using the recent drop in share price to open a Bullish two month position.
The Bearish option order flow continues this morning in the SPDR Financial Select Sector Fund (XLF) with 2 large Put spreads positioned out in the March expiry.
It looks like some large option players are "raising the white flag" in Bank of America Corp.(BAC) today with two large blocks of Call options being sold on the bids and most likely closing out previous Bullish positions.
Yahoo! (YHOO) shares are on the plus side this morning following an upgrade at Stifle Nicolaus from "Hold" to "Buy" with a price target of $18.00.
Hewlett-Packard Co. (HPQ) shares spike nearly 10% this morning following news out of Bloomberg that the company's board of directors is considering dismissing current CEO Leo Apotheker
Bullish option order flow in advertising and marketing service provider Interpublic Group of Companies, Inc. (IPG) late this morning with a multi-exchange sweep of 5,000 October 7 Calls at $1.30.
AMR Corp. (AMR), the parent company of American Airlines, is seeing Bullish option activity this morning with the near-month 3 strike Calls seeing more than 22,000 contracts change hands.
Independent natural gas company Range Resources Corp. (RRC) sees its shares pop late this morning on news out of DealReporter that the company has been approached by a non-U.S. suitor.
Cypress Semiconductor Corp. (CY) sees an early Bearish Put buyer this morning with the focus on the near month at-the-money contracts.
Swiss financial services firm UBS AG (UBS) shares are trading at their lowest level in more than two years following news that a rogue trader lost between $1.5-$2 billion dollars.
Interesting Option activity in managed healthcare provider Amerigroup Corp. (AGP) ahead of the company's analyst meeting in New York tomorrow morning.
LM Ericsson Co. (ERIC), the world's leading provider of technology and services to telecom operators, has seen its shares struggling to hold their $10 support level over the last month and Option activity this afternoon suggests some investors believes this technical level will hold and the shares will rally during the remainder of 2011.