Schaeffer's Sentiment Snapshot: DISH Network Corp. (DISH)

Business Wire, March 03, 2009

CINCINNATI -- In the wake of DISH Network Corp.'s (NASDAQ: DISH) guest appearance in the earnings spotlight yesterday, options traders rushed to place their bearish bets. The security saw single-day put volume of roughly 11,800 contracts yesterday – nearly 8 times its average daily volume of about 1,500 puts.

Most of yesterday's pessimistic positions centered on DISH's March 10 put, which saw 11,375 contracts cross the tape. What's more, the bearishly oriented option has seen more than 4,200 contracts change hands so far today. This round-number strike is currently home to peak put open interest in the front-month series, with a little more than 5,000 contracts in residence. Taking runner-up is the March 12.50 strike, home to about 2,400 put contracts.

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