Schaeffer's Option Blog: Optimism Is on the Rise for Network Appliances (NTAP) as Call Trading Soars

CINCINNATI--(Business Wire)--
Network Appliances (NASDAQ: NTAP) was the center of some heavy option trading on
Monday, as more than 39,200 contracts changed hands. This volume is more than
four times the equity's average single-day trading volume of 8,942 contracts,
according to data from WhatsTrading.com. Furthermore, roughly 82% of the volume
crossed the tape on the call side.

Checking on the action in the front three months of options, we find that the
July 19 call added approximately 1,900 new positions, lifting its open interest
up to 7,776 contracts. Meanwhile, the August 20 call added roughly 2,200 new
positions, raising its open interest up to 3,704 contracts.

To continue reading this article, click here:
http://www.schaeffersresearch.com/marketcenters/optionscenter/default1.aspx?id=94051&source=businesswire

Schaeffer's Investment Research
Jocelynn Drake, 513-589-3800
jdrake@sir-inc.com

Copyright Business Wire 2009