Micros (MCRS) Moving Toward Micro Stock Valuation?
by Houghton and Atkeson 08/26/08
Micros Systems (MCRS) is scheduled to report earnings after market close on Thursday, Aug. 28. Today, 21 times the usual volume of options have traded already.
The action is almost all puts. For that matter, they are almost all MCRS Sept 30 Puts (MFKUF). MCRS is trading at just over $30 per share.
Short interest is close to all-time highs. The stock has rolled over after breaking up through its 200-day moving average on Aug. 11 and has now fallen back through its 200-, 50- and 10-day moving averages to the downside. Thursday looks to be Judgment Day for MCRS.
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