Keep an Eye on Open Interest

Optimism is flowing freely this morning. The rainclouds are clearing away, and damage from both Irene and Athens isn't what most were expecting. Still, it doesn't make those affected by Irene feel much better, and our best wishes go out to them. I know I was muttering a few non-choice words last night when our air conditioning went down and the temperature rose to 91 degrees upstairs in my house, but then I started thinking about my friends and family back east, knowing things could have been a lot more uncomfortable. It's ironic that we have one part of the country begging and praying for rain while another part of the country was hoping and praying the rains would miss them.

Trading can be ironic as well. One minute you are looking for a stock to push higher, then you sell or short, and suddenly you hate the thing. "Drop! Go down!" Now you are yelling at the monitor as if it will hear you. This irony can teach us things. I was watching the action in Shaw Group (SHAW) September 25 calls last week, as suddenly there were 10,000 contracts out there for a stock trading in the low $20s. It looked worth a shot, but with the more conservative $23 options....445 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.