Is Hansen Living on the Coke side of Life?
by Houghton and Atkeson 12/04/08
The options in Hansen Natural Corp. (HANS) are bubbling up today with renewed rumors of a Coca Cola (KO) takeout.
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With the HANS at $28.90, up $1.08, market participants are focusing on near-month calls -- the HANS Dec 30 (QHOLF), Dec 35 (QHOLG) and Dec 40 (QHOLH) Calls.
Options trading is pretty fluild in HANS, with the 10-day average contract volume of 3,400, so the 9,400 contracts that have traded is less than three times usual.
What is noteworthy is that almost 95% of the option activity today is in the calls.
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Looking into June, the market should begin refocusing on upcoming earnings reports for evidence the economy is gaining momentum.
Watching the Treasury's Actions
In the short-term, the government's bond auction is likely to be a key driver of stocks.
Treasury Auction Boosts Market
The Treasury's auction of two-year notes brought an upside surprise which should alleviate fears of a lack of demand for U.S. paper.
Credit Markets Point to Upturn
The credit market, a reliable indicator of equity direction, suggests we will break out of the SPX's trading range to the upside.
The market seems to be saying that a 30% move up from the lows is ahead of the real economy and the market needs to allow the economy to catch up.
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