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Schaeffer's Sentiment Snapshot: Vornado Realty Trust (VNO)

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  Published in Business and Finance on Thursday, February 19th 2009 at 14:21 GMT, Last Modified on 2009-02-19 14:21:39 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--New York-based Vornado Realty Trust (NYSE: VNO) was the focus of optimistic options traders yesterday, as a flock of investors placed their bets in the wake of President Obama's plan to stabilize the housing market. As the commander in chief divulged the details of the $75 billion proposal, the integrated real estate investment trust (REIT) saw nearly 14,000 calls cross the tape, more than tripling its average daily volume of fewer than 4,000 contracts.

The security's March 55 call was the most popular bullish bet yesterday, with almost 13,000 contracts changing hands. This out-of-the-money strike is home to peak call open interest in the soon-to-be front-month series, with roughly 4,900 contracts in residence. The 55 strike is also prominent in the February series of options – which expires tomorrow – boasting open interest of more than 12,000 calls.

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