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Bear Builds a Short Call Spread on First Solar

Posted Mar 23rd 2010 5:40PM by Elizabeth Harrow (RSS feed)
Filed under: Options, Technical Analysis

Alternative energy issue First Solar, Inc. (FSLR) attracted the attention of a skeptical options trader today. Not long after the opening bell, a skeptically skewed short call spread crossed the tape on FSLR, with the speculator betting on lackluster price action during the short term.

Around 10:35 a.m., a block of 236 April 120 calls traded near the ask price, suggesting they were purchased. Simultaneously, a matching block of 236 April 115 calls changed hands near the bid price, indicating they were most likely sold. With FSLR trading around $110 at last check, both of these options are out of the money.

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Amgen draws skeptical option trade after hiking buyback program

Posted Dec 7th 2009 1:40PM by Elizabeth Harrow (RSS feed)
Filed under: From the Boards, Amgen Inc (AMGN), Options

Amgen Inc. (AMGN) announced this morning that its board of directors has authorized an additional stock buyback of up to $5 billion. The newly approved program adds to AMGN's existing share repurchase plan of roughly $1.2 billion. "This new authorization reflects Amgen's confidence in its long-term prospects," said the biotech firm in a press release.

Apparently, AMGN's confidence is not contagious, with the stock trading fractionally lower at last check. In fact, the stock is now hovering below short-term support from its 10-day moving average, which has been breached only once on a daily closing basis since early November.

Continue reading Amgen draws skeptical option trade after hiking buyback program