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Schaeffer's Sentiment Snapshot: State Street Corporation (STT)

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^{Published in Business and Finance on Tuesday, January 6th 2009 at 12:07 GMT, Last Modified on 2009-01-06 12:08:00 by Market Wire}  

CINCINNATI--([ BUSINESS WIRE ])--Skepticism among options speculators is on the rise toward State Street Corporation (NYSE: STT). During the past 10 days on the International Securities Exchange (ISE), the financial firm has seen more than 17 times as many puts than calls bought to open. What's more, this lofty ratio ranks in the 95th annual percentile, implying that the preference for puts has been more palpable only 5% of the time during the past year.

Further underscoring the escalating doubt in the options pits is the stock's inclining Schaeffer's put/call open interest ratio (SOIR). After surging higher recently, STT's SOIR now rests at 1.34 – only 16 percentage points from an annual pessimistic peak – as puts outnumber their call counterparts among options with less than 3 months until expiration.

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