STOCKS NEWS US-Bank bets lift S&P, Nasdaq, but Boeing trips Dow

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]

1721 ET 13Apr2009-Bank bets lift S&P, Nasdaq, but Boeing trips Dow
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The S&P 500 and Nasdaq rose on Monday as bets that major banks will post
reassuring quarterly results fueled a run-up in financials, offsetting
uneasiness about the fate of General Motors .
The Dow, however, slipped after Boeing said cuts in output of
widebody planes and lower-than-expected airplane prices would hurt
first-quarter profit, sparking caution about the economy's health and the
corporate earnings season just getting under way.
After the bell, Goldman Sachs , surprised investors by posting
stronger-than-expected quarterly results a day early, and announced a $5
billion public offering of common equity.
For more details, see [.N]
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net

1600 ET-13April2009 Players eye Harley puts brace for downside
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Shares of motorcyle maker Harley-Davidson Inc rose 1 cent to $18.03
near the close. But some option investors are shopping for downside protection
on the stock, said Andrew Wilkinson, senior market analyst at Interactive
Brokers Group, in a note to clients. The stock appeared "on our most 'active by
options volume' market scanner after one trader purchased 11,800 puts at the
May $15 strike price for a premium of 88 cents per contract," he said. This lot
of purchased puts represents nearly twice the amount of existing open interest
at that strike. Should shares fall below the breakeven point at $14.12 by
expiration next month, the trader will begin to amass profits as shares move
lower. From today's price of $17.64, shares would need to fall by another 20
percent in order to breach the breakeven point described, he said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1418 ET 13April2009 Trader says Mirant calls in demand
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Option traders have been loading up on power producer Mirant Corp's
call options as its shares were on either side of unchanged at $13.15 in
afternoon trade. "The options indicate there could be more as the stock has
moved above the 50-day average and edges toward the next level of the 100-day
average," said optionMonster.com founder Pete Najarian in comments on the
Website. The options are unusually active with buyers of the upside $15 calls
in both April and May expirations. The normal volume for Mirant is 1,478
contracts and yet both the Mirant April and May $15 calls have surpassed the
daily total volumes. The open Interest in both have been exceeded with the
April calls trading for 15 cents and the May calls fetching 40 cents a piece
earlier, he said. According to Trade Alert, sentiment based on option order
flow is 73 percent bullish. In all, about 12,000 calls and 327 puts traded.
Reuters Messaging: doris.frankel.reuters.com@reuters.net

1343 ET 13April2009-Traders turn optimistic on Marriott
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Shares of hotel operator Marriott International Inc rose 5 cents to
$19.24 in afternoon trade. Option traders have been scooping up calls in the
April and May contracts and appear to be looking for continued upward price
movement on the stock, said Interactive Brokers Group senior market analyst
Andrew Wilkinson in a note. At the April $20 strike price, 4,100 calls were
bought for an average premium of 38 cents apiece. Shares would need to continue
to rally by an additional 4 percent from a share price of $19.57 for investors
to break even at $20.38 by expiration this coming Friday. He noted that the
bullishness spread to the May $22.50 strike price where 1,600 calls were bought
for about 52 cents. The most optimistic of traders selected the May $25 strike
and picked up about 1,000 calls for 20 cents apiece. Late in the session, about
22,000 calls and 1,629 puts traded in Marriott, six times the normal combined
volume, according to Trade Alert.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS

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