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Shayne Heffernan is an Economist, Trader, Fund Manager and Venture Capitalist based in Asia. He also serves as Editor and contributor at www.livetradingnews.com, Founder of The Heffernan Group and currently building the company's financial services business in China. Major shareholder and CEO... More
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  • Unusual Options Trading Alert: Massey Energy (NYSE:MEE)  0 comments
    Dec 31, 2010 2:24 AM | about stocks: MEE
    Unusual Options Trading Alert: Massey Energy (NYSE:MEE)

    31 December 2010

    My filter picked up unusual options trade action in MEE Thursday. A total of 1,534 Puts and 11,317 Calls traded raising a low Put/Call volume alert. Today’s MEE Put/Call ratio is 0.14. Meaning that there were 7.38 Calls traded for each Put contract.

    The Unusual Trading Action

    1. Low Put/Call Ratio

    Note: Unusual volume provide us a good clue that the underlying stock is expected to make a move. Savvy players often use the Put/Call ratio statistics to measure trader sentiment.

    A high Put/Call ratio suggests that the overall investment sentiment is Bearish and that players expect the underlying stock to decrease in value. On the other hand, a low Put/Call ratio implies that the overall investment sentiment is Bullish based on the large amount of Call options purchased.

    Massey Energy (MEE) closed at 52.78 Wednesday and opened Thurday at 52.84.

    MEE closed at 53.67, up 0.89 (+1.69%) on he Day, the low was 52.83 and the high was 53.95.

    Volume: 1,635,053/shrs is below the average 3 mo volume of 4,800,900/shrs.

    MEE is trading above its 50 and 200 Day Moving Averages.

    The stock’s 52 week low is 25.85 and 52 week high is 54.80, its EPS is -0.77, and its Div & Yield is 0.24 (0.50%),

    Price Performance Metrics for Massey Energy: Wk: 5.40% Mo: 9.97% Q:-28.66% 6 Mo: 9.32% Yr: -20.57%
    Analysis Overall Short Intermediate Long
    Very Bullish (0.54) Bullish (0.40) Very Bullish (0.64)
    Very Bullish (0.58)

    Open Gaps
    Direction Date Range
    Up 19 Oct 2010 35.68 to 36.86
    Up 1 Sept 2010 29.21 to 29.69

    Recent CandleStick Analysis Very Bullish
    Date Candle
    29 Dec 2010 Homing Pigeon

    Support and Resistance
    Type Value Conf.
    resist. 56.99 1
    supp 51.72 15
    supp 36.86 2
    supp 34.92 5
    supp 32.81 4
    supp 29.85 8
    supp 27.62 4

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    Stocks: MEE
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