Top Stock With Unusual Call Activities On Wednesday: Petrobras $PBR
By Contributor Nick Chiu
By removing the uncertainty of Fiscal Cliff, investors cheered, and the market had a strong rally in the first trading day of 2013. Investors now turn their attention to the debt-ceiling as Senate Minority Leader Mitch McConnell called on the Senate to pass a debt-ceiling compromise by early February.
All three major indices continued the rally with Nasdaq led the gain again with 3.07% surge. S&P 500 followed with 2.54% increase while Dow Jones also achieved 2.35% rise. QQQ, SPY, and DIA all closed above their 50-day and 200-day Moving Averages. All sectors closed in green again, and the technology sector led the gain with 3.22% increase.
The market sentiment is driven by greed now with Fear & Greed Index at 79, increased from the previous close of 70. As reported by CBOE, the total put/call ratio for today was 0.97, and the index put/call ratio was 1.16. The equity put/call ratio was 0.55, and the CBOE volatility index (VIX) put/call ratio was 0.87. In the following, top stock had been identified through our daily options scanning process, with the scanning criteria where the daily call volume ratio was above 3.00 (3x of the average call volume) with a call volume above 10,000.
PBR is a Brazil-based integrated oil and gas company, controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore field.
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