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The VIX ($VIX.X | Quote | Chart | News | PowerRating) opened near the midpoint of its range and closed near the lows of the day. Despite the gap up, this shift in intraday sentiment suggests that fear is dropping. Today's action triggered another CVR I buy signal. The VXN ($VXN.X | Quote | Chart | News | PowerRating) opened near its lows and closed on near the highs of the day. This shift in intraday sentiment shows that fear is increasing. No CVR signals were triggered by the VXN today.
Points of Significance:
PeopleSoft (PSFT | Quote | Chart | News | PowerRating) plunge over 32% on nine times its average volume. The shares were decimated after the company announced a shortfall in licensing revenues and earnings. Peoplesoft is now at a six month low.
Best Buy (BBY | Quote | Chart | News | PowerRating) dropped over 5% on double its average volume. The company announced fourth quarter earnings that jumped 84% and beat estimates by a penny. However the company warned that its first quarter earnings are likely to fall below estimates due to weak sales. Best Buy shares did manage to close above its .382 retracement level. There is heavy activity in the May 75 puts.
Cablevision (CVC | Quote | Chart | News | PowerRating) dropped 7% on triple its average volume. The shares of the largest cable operator in the New York area came under pressure today after it announced that it would offer rebates to subscribers for not airing all of the Yankees games this season. There is heavy activity in the June 25 puts.
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VIX | 20.68 | UP 0.63 | CVR I BUY | 2.53% Above | Not at Extreme |
| VXN | 39.32 | UP 2.87 | NONE | 3.45 % Below | Not at Extreme |
Abnormal Options Volume With Price Movement -- Abnormal options volume (calls and puts) with stock price movement
| Name | Symbol | Net % Change | Volume | Avg. Volume |
| PeopleSoft | PSFT | - 32.67 | 27864 | 10489 |
| JAKKS Pacific | JAKK | - 9.86 | 390 | 139 |
| Documentum | DCTM | - 8.57 | 564 | 138 |
| Cablevision Systems | CVC | - 7.77 | 1799 | 824 |
| SAP | SAP | -6.91 | 7275 | 412 |
| Best Buy | BBY | - 5.62 | 13196 | 5775 |
Stocks With Biggest Spikes in Implied Volatility -- Stocks with biggest increases or decreases in implied volatility compared to previous day
Spike Up
| Name | Symbol | IV | Previous IV | High IV | Low IV |
| Financial Sector SPDRs | XLF | 15.6 | 11.2 | 28.4 | 17.4 |
| Ceridian | CEN | 34.3 | 26.2 | 56.9 | 25.9 |
| Quest Software | QSFT | 109.5 | 86.6 | 98.3 | 71.8 |
| PeopleSoft | PSFT | 73.4 | 58.6 | 104.4 | 63 |
| JDA Software | JDAS | 66.4 | 55.1 | 75.5 | 55.5 |
| PennzEnergy | PZL | 31.8 | 26.7 | 54.2 | 31.8 |
Spike Down
| Name | Symbol | IV | Previous IV | High IV | Low IV |
| Rare Hospitality | RARE | 43 | 52.7 | 57 | 40.01 |
| New Plan Excel Realty | NXL | 14.9 | 18 | 32.9 | 17.7 |
| GP Financial | GPT | 21.8 | 25.9 | 46.5 | 24.6 |
| National City Corp. | NCC | 17.8 | 20.6 | 36.2 | 19.1 |
| Consumer Staples SPDRs | XLB | 20.4 | 18.2 | 42 | 17.3 |
| Forrest Labs | FRX | 27.3 | 31 | 39.7 | 26.8 |
Please use stops on every trade!
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