Schaeffer's Option Blog: Google Inc. (GOOG) Put Traders Defy Trend on the ISE
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CINCINNATI--(Business Wire)-- Google Inc. (NASDAQ: GOOG) garnered heavy put activity on Friday, as investors placed last-minute bets and rolled out positions ahead of May options expiration. According to data from WhatsTrading.com, the search-engine czar saw about 37,000 puts change hands, more than doubling its average single-session volume of fewer than 17,000 contracts. Most active was the now-expired May 390 put, which saw almost 27,200 contracts change hands. The bearish bias mirrors the sentiment among near-term traders, as the security's Schaeffer's put/call open interest ratio (SOIR) of 0.81 stands only 15 percentage points from an annual pessimistic peak. However, Friday's preference for puts stands in stark contrast to the recent trend on the International Securities Exchange (ISE). During the past couple of weeks, speculators on the ISE have bought to open more calls than puts on GOOG. To continue reading this article, click here: http://www.schaeffersresearch.com/commentary/content/google+inc+goog+put+traders+defy+trend+on+the+ise/optionbytes.aspx?single=true&byteID=93025#93025&source=businesswire Schaeffer's Investment Research Andrea Kramer, 513-589-3800 (akramer@sir-inc.com) Copyright Business Wire 2009
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