Schaeffer's Options Update: BJ Services Company Flooded by Put Volume

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Fri Jun 26, 2009 4:29pm EDT 

CINCINNATI--(Business Wire)--
Analysts at Goldman Sachs cut their price target on oil equipment and services
firm BJ Services Company (NYSE: BJS) yesterday, lowering their target to $16 per
share from $19 per share. The brokerage firm also reiterated its "neutral"
rating on the equity. While BJS has gained nearly 4% despite this negative
brokerage note, options traders have shown a preference for puts in today's
trading. 

Specifically, our Intraday Volume Explosion List reveals that more than 5,500 of
these bearishly oriented contracts have changed hands so far, outpacing the
stock's average daily put volume by more than eight to one. The most popular
strike on the session appears to be the out-of-the-money August 12.50 put. 

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Schaeffer's Investment Research
Joseph Hargett, 513-589-3800
jhargett@sir-inc.com



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