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Options Long and Short for Today

Apr 28 2008

Options Long and Short for Today

    On the long side today there is Sohu (SOHU). This stock shot up 14.51% today and there was a lot of Call option action in the May and June months. Most Chinese Web stocks rallied today as Sohu provided a strong first quarter report on the back of online game sales. For the second quarter, Sohu projected higher revenue than analyst were expecting. In May, the 65 strike price Calls and the 70 strike price Calls saw above normal buying action. In June, the 60 strike price Calls had volume of 2,847 options, well above what other strike prices had seen.

    On the short side there was Radio Shack (RSH). This stock moved down 13.54% as same store sales came in weak, dropping 4% in the first quarter. The company blamed sales of Sprint postpaid wireless products. Other product areas did better. Margins looked weak and profit was lower than expected. May 15 and 17.50 strike Puts and June 15 strike Puts saw most the action today.

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