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<font size=3><b>Realtraders,<br>
<br>
Below is a news item on VISX regarding some recent options
activity. However, after reading it, I am unsure of what to make of
the statement. My take is that it is negative for the stock, as
seen by the price drop over the last few days BUT is there anything in
the below article that would suggest support or a reversal back to the
upside.<br>
<br>
Thanks,<br>
John Boggio<br>
<br>
<br>
Thursday January 13, 7:35 pm Eastern Time</b> <br>
</font><font size=5><b>U.S. Options - VISX vols rise, puts bought<br>
</font></b><font size=3>CHICAGO, Jan 13 (Reuters) - Implied volatility
bounced up on Thursday in options on VISX Inc.
(NasdaqNM:</font><font size=3 color="#0000FF"><u>VISX</font></u><font size=3>
- </font><font size=3 color="#0000FF"><u>news</font></u><font size=3>) as
the stock ebbed, while call rolling and put demand pumped up volume.
<br>
<br>
``Today, they've (vols) increased dramatically with the stock drop,''
said a market maker in the option at the Chicago Board Options Exchange.
``The (implied) volatility in the Feb 45 line is around 122-124
(percent). It was probably in the 90s.'' <br>
Volume also grew on Thursday, with some rolling out of the Januarys,
which expire next Friday, and into February. <br>
Combined volume on the CBOE and American Stock Exchange totaled roughly
13,970 calls and 10,775 puts. <br>
``Normal volume, I'd say, is about 3,500 (contracts) the last 5 to 10
days,'' said the market maker of CBOE volume. <br>
In particular, he noted one large roll -- about 4,750 contracts -- out of
the January 50 calls, which fell 3/8 to 2-3/4 on combined volume of 6,285
and open interest of 7,019, and into the February 40 calls, which were
flat at 11-5/8 on interexchange volume of 5,760 and zero open interest.
<br>
He also saw ``some naked buying in the Feb 45 puts,'' which rose 1-3/4 to
5-1/2 on combined turnover of about 7,255 versus open interest of 438.
<br>
California-based VISX designs and develops technology for laser vision
correction, and the market maker noted some concern about competitive
pricing pressures in that industry as well as continued uncertainty about
a patent infringement case against VISX by rival laser systems developer
Nidek Inc. <br>
VISX earnings also are due next week, which further heightened option
interest, he added. <br>
VISX is expected to report on January 19 that it earned $0.38 a share
during the fourth quarter, according to a First Call/Thomson Financial
consensus estimate. <br>
VISX shares ended down 1-15/16 at 47-15/16 on Nasdaq market volume of 6.1
million. <br>
<br>
<b><table border=0>
<tr><th width=296>More Quotes and News:</b><td width=327>VISX Inc
(NasdaqNM:</font><font size=3 color="#0000FF"><u>VISX</font></u><font size=3>
-
</font><font size=3 color="#0000FF"><u>news</font></u><font size=3>)</td></tr>
<tr><th width=296><b>Related News Categories:</b>
</font><font size=3 color="#0000FF"><u>health</font></u><font size=3>, </font><font size=3 color="#0000FF"><u>options</font></u><font size=3>, </font><font size=3 color="#0000FF"><u>US Market News</font></u><font size=3><td width=327></td></tr>
</table>
<br>
</font><br>
</html>
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