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May 24, 2013  Fri 10:33 AM CT

FB: SEE CHART GET CHAIN FIND STRATEGIES
Nearing the halfway mark in today's session, here are the individual equity names with the most call and put buying on optionMONSTER's ActionTracker data system.

Cobalt International Energy (CIE): Volume surged in the July 30 calls and the July 35 calls. Volume was below open interest at both, indicating that an existing bullish call spread was closed. CIE fell 2.34 percent to $26.25.

EMC (EMC): An investor bought 5,000 October 23 puts for $1.20, bracing for downside in the share price. EMC fell 0.93 percent to $23.44.

Facebook (FB): Almost 20,000 July 30 calls were bought for $0.10, but volume was below open interest at the strike. FB fell 2.23 percent to $24.50.
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Both break outs and a break downs need to have a couple things happen before it is considered a confirmed break out or break down by technical definition!  The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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