By Jeff Kearns
June 13 (Bloomberg) -- The following is a list of companies with unusual options trading in U.S. exchanges today. Stock symbols are in parentheses after company names. Options trading and stock prices are as of 4 p.m. in New York.
Call options give investors the right, without the obligation, to buy shares of a company at a specified price by a given date. Put options convey the right to sell shares.
Adobe Systems Inc. (ADBE US): The number of calls traded rose to 54,546, more than six times the 20-day average, before the world's biggest maker of design software reports second- quarter earnings tomorrow. The price of the most active option, $45 June 16 calls, rose 89 percent to 85 cents. Adobe has exceeded analysts' profit estimates in each of the last six quarters, according to data compiled by Bloomberg. The stock was added to the ``Global Tech Conviction List'' at Citigroup Investment Research, which rates the shares ``buy.''
Adobe shares added 3.2 percent to $44.11.
First Marblehead Corp. (FMD US): The number of calls traded surged to 49,471, a 28-fold increase from the 20-day average. Shares of the third-largest securitizer of student loans start trading tomorrow without the right to receive dividends payable June 25. Trading often surges before so-called ex-dividend dates as traders seek to collect company payouts.
The price of most active option, $30 June 16 calls, fell 8.9 percent to $8.20. First Marblehead shares rose 3.1 percent to $38.42.
Goldman Sachs Group Inc. (GS US): The number of calls traded surged to 54,036, a more than twofold increase from the 20-day average, before the world's biggest securities firm reports second-quarter earnings tomorrow. The price of the most actively traded contract, $230 June 16 calls, rose 80 percent to $5.40. Goldman has exceeded analysts' profit estimates for five consecutive quarters.
Goldman shares advanced for a fourth straight day, adding 2.5 percent to $233.64.
To contact the reporter on this story: Jeff Kearns in New York at jkearns3@bloomberg.net.
Last Updated: June 13, 2007 16:50 EDT
HOME