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U.S. stock market report 1228 ET 06Nov2009 Option traders turn optimistic on healthcare ETF ------------------------------------------------------------------------------
Option trading in the Health Care Select Sector SPDR fund was positive as investors look for gains into the spring, said optionMonster analyst David Russell in comments on the Web site. OptionMonster's computer model show investors sold the March $27 puts for premiums of 70 to 80 cents and bought the March $29 calls for $1.25 to $1.40. The puts traded more than 16,000 times and the calls about half as much. Volume exceeded open interest in both strikes. The XLV rose 12 cents to $29.08 in afternoon trade. "Today's buyers may expect the sector to rebound as health-care reform efforts struggle in Congress and because it's a defensive industry group" he said. "The options trades are designed to profit from the XLV moving higher." In the largest transaction, Russell noted 3,700 calls were bought for $1.30 and 3,700 calls were sold for 95 cents. The position would amass a profit if the ETF closes above $29.35 by expiration and lose money below $27.

Reuters Messaging: doris.frankel.reuters.com@reuters.net

1149 EST 06Nov2009-Markets flat as upgrades offset jobs data ------------------------------------------------------------------------------
U.S. stocks were flat on Friday, as positive broker comments on such companies as General Electric and Amazon were offset by data showing the unemployment rate soared to 10.2 percent last month, its highest in more than 26 years.
Bernstein upgraded both GE and Amazon to "outperform," while Goldman Sachs upgraded Travelers Cos.
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The Dow Jones industrial average was flat at 10,007.47, while the S&P 500 was down less than a tenth of a percent to 1,066.25 and the Nasdaq was unchanged at 2,105.56.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1101 EST 06Nov2009-W&T Offshore shares sink after downgrade ------------------------------------------------------------------------------
Shares of W&T Offshore Inc fell on Friday, after the company was downgraded to "hold" from "buy" at Jefferies, which said it saw few near-term catalysts to lift the stock.
Jefferies expects the company to go through a 10 percent decline in production in 2010, and said the current commodity price and service cost environment appeared light.
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The stock shed 6.7 percent to $10.99.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1041 ET 06Nov2009-Clorox calls turn busy, implied vols up ------------------------------------------------------------------------------
Investors appear to be picking up Clorox Co call options as its shares rose 7 cents to $59.54 and reached a high of $59.95 in morning trading.

Overall option volume was six times the average daily turnover with about 12,000 calls traded against only 304 puts so far, Trade Alert data show. Some customers bought-to-open November and December $65 calls on the International Securities Exchange in early trade, according to ISEE data, said WhatsTrading.com option strategist Frederic Ruffy.
He noted the November $60 call strikes were the most actives, with 4,700 contracts traded and 67 percent trading ask-side. The stock's average implied volatility is up to 25.5 percent, from about 24.7 percent late on Thursday.

Reuters Messaging: doris.frankel.reuters.com@reuters.net 1023 ET 06Nov2009-Steel shares up after trade tariffs against China ------------------------------------------------------------------------------
U.S. steel producers' stocks rose on Friday, a day after the United States slapped preliminary anti-dumping duties as high as 99 percent on Chinese-made oil well pipe in the biggest U.S. trade action against China.
The 10-stock Dow Jones iron and steel index rose 0.6 percent, even as the broad S&P 500 fell 0.1 percent.
Shares of United States Steel Corp, which had joined other steelmakers in petitioning the Commerce Department for import curbs in April, rose 1.2 percent to $37.23.
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ET 06Nov2009-Blue Coat draws ratio put spread ------------------------------------------------------------------------------
Shares of Blue Coat Systems Inc fell 1.1 percent to $25.02 on Friday morning, one day after the Internet-monitoring equipment maker announced a strategic plan to drive long-term revenue growth and increase operating profitability. In the options market, one player might be looking to hedge or bet against the company, WhatsTrading.com option strategist Frederic Ruffy said.
A December $22.50-$25 (2X1) put ratio spread was bought at 20 cents and traded 2,500 times in what appeared to be an opening position, Ruffy added. Overall volume was four times the average daily turnover with 8,373 puts and 759 calls traded, according to Trade Alert.

Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS

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