Traders wrote over 11,085 Nov 2009 $35 Call options contracts on Pall Corp. (PLL) on open interest of only 819. Pall is a manufacturer of filtration systems used in laboratories, pharmaceutical and biotechnology companies. The PLL MOB Index Call Volume level (PLL_CALL_MI) closed Thursday at 16,962 over 169 times normal volume levels.

MOB Index Name	Company	MI Value	MI Put/Call Ratio
PLL_PUT_MI	Pall Corp.	2,910.68	0.172
PLL_CALL_MI	Pall Corp.	16,962.16

Traders wrote over 2,200 Nov 2009 $40 Call contracts on Scripps Networks Interactive (SNI), the lifestyle media operator of the Food Network. The SNI MOB Index Call Volume (SNI_CALL_MI) closed Monday at 13,520, over 135 times normal volume levels.

MOB Index Name	Company	MI Value	MI Put/Call Ratio
SNI_PUT_MI	Scripps Networks	422.64	0.031
SNI_CALL_MI	Scripps Networks	13,520.00

As money managers seek additional returns we can expect a growing number of dividend capture strategies employed. The following securities have high dividend yields and go ex-dividend on September 29th.

Investors using a dividend capture strategy will buy the stock prior to the ex-dividend date, hold the security until after the ex-dividend date to ensure they will receive the dividend, and then sell the security.

Expect a large increase in call option volume as these investors write covered calls to hedge their short term long positions as well as extending their returns by gathering the offsetting call premium.

Annaly Capital Management, Inc. (NLY) - 12.48% Dividend Yield

Chimera Investment (CIM) - 6.17% Dividend Yield

Traders on Tuesday took a significant long position in Clorox (CLX) and hedged that position by writing covered calls at a strike of 60 and 65. Clorox traded over 5.3 million shares on Tuesday, almost 4 times normal levels. Options activity was more pronounce with the MOB Index Volume Level for Clorox calls (CLX_CALL_MI) closing the day at 8,351.86 more than 80 times normal levels.

The company, on Tuesday, declared a regular quarterly dividend of 50 cents per share, payable November 13, 2009, to holders of record on October 28, 2009.

Clorox is a global manufacturer of consumer products including bleach and cleaning products; Green Works natural cleaners; Armor All and STP auto care; Fresh Step and Scoop Away cat litter; Kingsford charcoal; Hidden Valley and KC Masterpiece sauces and dressings; Brita water-filters; Glad bags and containers; and Burt's Bees natural personal care products.

MOB Index Name	Company	MI Value	MI Put/Call Ratio
CLX_PUT_MI	Clorox Corp	2,373.26	0.284
CLX_CALL_MI	Clorox Corp	8,351.86

The 90 Day United States Mob Index Ownership Volume Distribution

19.46% Between 879.13 & 906.622
25.86% Between 906.632 & 934.123
15.02% Between 934.133 & 961.625
8.68% Between 961.635 & 989.127
19.69% Between 989.137 & 1016.63
11.29% Between 1016.64 & 1044.13

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Trading volume in financial shares accounted for more then 41% of the total shares traded on the New York Stock Exchange. Citi, Fannie Mae, Freddie Mac and Bank of America traded over 2.7 billion shares.

The US MOB Index Volume level (US_MI) closed the day at 269.19 up 21 points.

The 90 Day United States Mob Index Ownership Volume Distribution

4.52% Between 753.89 & 787.328
8.92% Between 787.338 & 820.777
13.49% Between 820.787 & 854.225
17.68% Between 854.235 & 887.673
33.14% Between 887.683 & 921.122
22.26% Between 921.132 & 954.57

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The 90 Day United States Mob Index Ownership Volume Distribution

8.95% Between 676.53 & 721.467
5.46% Between 721.477 & 766.413
8.95% Between 766.423 & 811.36
17.32% Between 811.37 & 856.307
21.70% Between 856.317 & 901.253
37.61% Between 901.263 & 946.2

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The 90 Day United States Mob Index Ownership Volume Distribution

8.02% Between 676.53 & 721.222
9.11% Between 721.232 & 765.923
13.93% Between 765.933 & 810.625
28.97% Between 810.635 & 855.327
19.32% Between 855.337 & 900.028
20.64% Between 900.038 & 944.73

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General Motors Corp. announced that an insufficient number of bondholders agreed to swap $27 billion in unsecured debt for 10 percent of GM's common stock, pushing the automakers closer to bankruptcy.

The federal government has given GM a deadline of Monday, June 1 to complete their restructuring plans or file Chapter 11. These plans include plant closures, debt reduction and a reduction in labor costs.

At this point GM has received over $19 billion in federal loans.

On Tuesday, the US MOB Index (US_MI) volume level closed up 25 points to 231.84.

The 90 Day United States Mob Index Ownership Volume Distribution

6.94% Between 676.53 & 718.637
9.24% Between 718.647 & 760.753
14.40% Between 760.763 & 802.87
31.76% Between 802.88 & 844.987
24.00% Between 844.997 & 887.103
13.67% Between 887.113 & 929.22

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The 90 Day United States Mob Index Ownership Volume Distribution

7.04% Between 676.53 & 718.637
9.37% Between 718.647 & 760.753
14.61% Between 760.763 & 802.87
32.22% Between 802.88 & 844.987
25.16% Between 844.997 & 887.103
11.59% Between 887.113 & 929.22

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The 90 Day United States Mob Index Ownership Volume Distribution

7.43% Between 676.53 & 719.548
9.90% Between 719.558 & 762.577
16.64% Between 762.587 & 805.605
35.99% Between 805.615 & 848.633
23.44% Between 848.643 & 891.662
6.61% Between 891.672 & 934.69

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The 90 Day United States Mob Index Ownership Volume Distribution:

7.59% Between 676.53 & 719.548
10.11% Between 719.558 & 762.577
16.99% Between 762.587 & 805.605
34.11% Between 805.615 & 848.633
22.36% Between 848.643 & 891.662
8.84% Between 891.672 & 934.69

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7.63% Between 676.53 & 719.548
11.83% Between 719.558 & 762.577
16.38% Between 762.587 & 805.605
29.29% Between 805.615 & 848.633
25.55% Between 848.643 & 891.662
9.33% Between 891.672 & 934.69

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With the country moving deeper into a recession, the Federal Reserve launched a $1.2 trillion program to lower rates on consumer debt and mortgages in an effort to increase spending and reignite the economy.

Along with keeping short term rates at record lows between zero and .25%, the Fed will allocate up to $750 billion in mortgage-backed securities guaranteed by Freddie Mac and Fannie Mae as well as $300 billion to buy long-term government bonds.

On Wednesday, the US_MI MOB Index Volume indicator closed at 291.51 up 96.76 as the S&P 500 closed up over 2% to 794.35.

25.97% Between 676.53 & 701.572
15.79% Between 701.582 & 726.623
15.77% Between 726.633 & 751.675
27.19% Between 751.685 & 776.727
15.29% Between 776.737 & 801.778

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15.97% Between 696.33 & 725.247
15.94% Between 725.257 & 754.173
22.36% Between 754.183 & 783.1
10.68% Between 783.11 & 812.027
24.73% Between 812.037 & 840.953
10.31% Between 840.963 & 869.88

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Institutional investors including investment banks and hedge funds reduced stock inventories by over 10% or 21 billion shares in the forth quarter of 2008.

While institutions reduced their holding across all major sectors of the US market, holdings in Consumer Staples were only reduced by 4.8%.

The table below shows the MOB Index Sector Institutional Volume Ownership levels for the 4th quarter of 2008 along with the change from the previous quarter.

Sector	MI 2008Q4	MI 2008Q3	2008Q4 MI Chg	2008Q4 MI % Chg
Consumer Discretionary	87.01	97.54	-10.53	-10.79%
Consumer Staples	95.78	100.59	-4.82	-4.79%
Energy	96.98	110.58	-13.6	-12.3%
Financials	100.1	112.26	-12.17	-10.84%
Health Care	89.83	101.9	-12.07	-11.84%
Industrials	95.4	104.91	-9.51	-9.06%
Materials	84.27	96.78	-12.51	-12.93%
Technology	91.01	100.8	-9.79	-9.71%
Utilities	91.65	103.41	-11.77	-11.38%

Institutional investors including investment banks and hedge funds liquidated stock inventories of S&P 500 securities by over 21 billion shares in the forth quarter of 2008.

Still, institutions chose to increase their holdings in some consumer staples and waste management firms.

The table below shows the MOB Index Institutional Volume Ownership Levels for the 4th quarter of 2008 along with the change from the previous quarter.

Sym	Name	2008Q4 MI Value	2008Q4 MI Chg
SJM	JM Smucker Co	257.78	159.04%
RSG	Republic Services Inc	176.1	86.66%
HSY	Hershey Co	144.17	54.46%
ECL	Ecolab Inc	132.32	32.06%
HBAN	Huntington Bancshares Inc	128.17	-25.81%
SOV	Sovereign Banc Ord Shs	127.62	-25.73%
MBI	MBIA Inc	106.06	-28.92%
WFMI	Whole Foods Market Inc	78.46	-27.38%
AKS	AK Steel Holding Corp	77.2	-25.06%
CF	CF Industries Holdings Inc	72.09	-25.03%
F	Ford Motor Co	70.76	-34.36%
IP	International Paper Co	69.34	-27.97%
CVH	Coventry Health Care Inc	64.97	-32.72%
AMD	Advanced Micro Devices Inc	62.71	-27.21%
GM	General Motors Corp	50.85	-41.62%
NYT	New York Times Co	45.96	-46.51%

5.92% Between 805.22 & 816.688
27.03% Between 816.698 & 828.167
31.58% Between 828.177 & 839.645
25.92% Between 839.655 & 851.123
9.55% Between 862.612 & 874.08

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Global markets plummeted as Treasury Secretary Timothy Geithner released details of a $2 trillion stimulus program.

The plan, a public-private partnership, includes allocating $500 billion to $1 trillion to buy up toxic mortgage-backed assets. In addition, as much as $1 trillion will be used to expand consumer and business credit.

These expenditures are in addition to the second half of the $700 billion TARP program focused on shoring up the money center banks.

16.24% Between 805.22 & 826.79
48.97% Between 826.8 & 848.37
5.39% Between 848.38 & 869.95
19.59% Between 869.96 & 891.53
9.81% Between 891.54 & 913.11

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7.29% Between 805.22 & 826.79
34.18% Between 826.8 & 848.37
11.42% Between 848.38 & 869.95
21.80% Between 869.96 & 891.53
15.82% Between 891.54 & 913.11
9.49% Between 913.12 & 934.69

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President-elect Obama's request for $350 billion in bailout funds was narrowly approved by the Senate on Thursday.

The vote followed a commitment by Obama to use $100 billion of the funds to help homeowners avoid foreclosure.

The discussion on the hill quickly turned to the separate economic stimulus plan. Speaker Nancy Pelosi, D-Calif. said, "Immediate job creation and then continuing job creation" were the main goals of the legislation. The plan calls for tax cuts to businesses and individuals while pouring billions into health care, education, energy and highway construction.

She pledged to have the economic stimulus bill ready for Obama's signature by the middle of February.

28.70% Between 863.16 & 875.073
13.26% Between 875.083 & 886.997
16.46% Between 887.007 & 898.92
23.95% Between 898.93 & 910.843
7.39% Between 910.853 & 922.767
10.24% Between 922.777 & 934.69

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6.77% Between 845.22 & 859.64
26.44% Between 859.65 & 874.07
25.63% Between 874.08 & 888.5
16.74% Between 888.51 & 902.93
24.42% Between 902.94 & 917.36

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5.43% Between 816.21 & 832.362
6.57% Between 832.372 & 848.523
9.91% Between 848.533 & 864.685
37.99% Between 864.695 & 880.847
21.14% Between 880.857 & 897.008
18.96% Between 897.018 & 913.17

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12.92% Between 800.03 & 818.878
17.05% Between 837.747 & 856.595
19.99% Between 856.605 & 875.453
31.54% Between 875.463 & 894.312
18.50% Between 894.322 & 913.17

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7.89% Between 752.44 & 779.22
7.99% Between 779.23 & 806.01
10.05% Between 806.02 & 832.8
21.84% Between 832.81 & 859.59
24.65% Between 859.6 & 886.38
27.58% Between 886.39 & 913.17

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7.86% Between 752.44 & 778.64
7.95% Between 778.65 & 804.85
10.00% Between 804.86 & 831.06
21.25% Between 831.07 & 857.27
36.10% Between 857.28 & 883.48
16.84% Between 883.49 & 909.69

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7.86% Between 752.44 & 778.905
7.96% Between 778.915 & 805.38
10.01% Between 805.39 & 831.855
31.16% Between 831.865 & 858.33
21.58% Between 858.34 & 884.805
21.43% Between 884.815 & 911.28

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7.97% Between 752.44 & 782.188
13.64% Between 782.198 & 811.947
4.58% Between 811.957 & 841.705
41.84% Between 841.715 & 871.463
21.86% Between 871.473 & 901.222
10.10% Between 901.232 & 930.98

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8.20% Between 752.44 & 785.818
18.54% Between 785.828 & 819.207
21.04% Between 819.217 & 852.595
21.79% Between 852.605 & 885.983
26.62% Between 885.993 & 919.372
3.80% Between 919.382 & 952.76

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8.31% Between 752.44 & 794.648
18.80% Between 794.658 & 836.867
37.60% Between 836.877 & 879.085
26.99% Between 879.095 & 921.303
8.30% Between 921.313 & 963.522

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8.50 % Btwn 752.44 & 794.648
14.54 % Btwn 794.658 & 836.867
32.62 % Btwn 836.877 & 879.085
27.28 % Btwn 879.095 & 921.303
8.49 % Btwn 921.313 & 963.522
8.57 % Btwn 963.532 & 1005.74

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8.03 % Btwn 752.44 & 794.648
13.73 % Btwn 794.658 & 836.867
25.84 % Btwn 836.877 & 879.085
19.57 % Btwn 879.095 & 921.303
24.74 % Btwn 921.313 & 963.522
8.09 % Btwn 963.532 & 1005.74

The monthly forecast of future economic activity rose by 0.3 percent in September ahead of analyst expectations of a 0.2 percent decline.

The forecast was helped by the one-time jump in the money supply as the fed undertook the bailouts of Fannie Mae, Freddie Mac and AIG; as well as an infusion of $180 billion into the money markets to free up lending between banks.

Current US_MI closed the day at 166.04 down 33 to the lowest trading levels since September 24th. A further decline in MOB Index volume levels accompanied by a broad market rally could indicate a period of accumulation and mark a short-term reversal point for US stocks.

Retail Sales dropped more then expected in September increasing concerns over a prolonged recession. The 1.2% sales drop was the largest decline in three years sending US stocks on a massive sell-off; wiping out most of the gains from Monday's 900 point rally.

Expect more volatility on Thursday with the week's CPI and Initial Jobless Claims announcements providing investors more detail on the economy's recessionary outlook.

The US_MI MOB Index Volume indicator closed at 194.90 indicating continued strong selling pressure on US stocks.

The Dow gained over 900 points ahead of the Fed's plan to invest as much as $250 billion in US Banks.

Initially the Fed will allocate $250 billion of the $700 billion TARP budget to purchase equity in nine large banks, but the program is expected to be expanded to many others.

Although the 936 point rally was the biggest one day move in the Dow since 1933, trading volumes were less then record breaking. The US_MI closed the day at 204.91 down 143.84 points from Friday's session which pushed the US Mob Index to a yearly high of 348.75.

US markets saw increasing selling pressure on Friday even as the federal government considered purchasing stakes in US Banks.

Over 11 billion shares exchanged hands on the NYSE on Friday pushing the US_MI above 335 for the day.

On Wednesday the Federal Reserve along with the European Central Bank (ECB), Bank of England, Canadian, Swedish and Swiss banks eased interest rates in an effort to stem turmoil in the capital markets.

The Fed cut the key federal funds rate and the discount rate by half a point to 1.5% and 1.75%, respectively. The ECB and the Bank of England each cut their rates by half a point to 3.75% and 4.5%, respectively.

On Tuesday the US_MI MOB Index Volume indicator closed at 219.10 indicating continued strong selling pressure on US stocks.

Reports of a 4% drop in factory orders and initial jobless claims hitting a seven year high raised fears that the government's rescue plan won't ward off a recession, and sparked a major sell-off in the broad market. The S&P and NASDAQ Indices each dropped by over 4%, while the DJI fell by nearly 350 point to close at 10,482.85.

The US_MI MOB Index Volume indicator closed at 171.27 indicating continued strong selling pressure on US stocks.

Senators passed the $700 Billion bailout bill on Wednesday night 74 to 25. The plan received support after the senate added $110 billion in tax breaks for businesses and the middle class, plus a provision to raise the FDIC insurance cap from $100,000 to $250,000.

House leaders are scrambling to pick up the additional 12 votes needed to push through the legislation by Friday.

While US market volatility is at a five year high the US_MI MOB Index Volume indicator has been trending down since September 22 closing at 169.21.

The White House and Congressional leaders finalized the rescue bill on Sunday but not without significant changes to Treasury Secretary Hank Paulson's original proposal.

In the amended agreement, $250 billion would be made available immediately to purchase illiquid assets. The remaining $450 billion will be dispersed subject to congressional approval.

In addition, the federal government could participate in future profits by obtaining stock warrant ownership interests in certain financial institutions. There were provisions addressing lawmaker's concerns over excessive executive pay. Firms receiving over $300 million in government funds would face significant tax liability for executive pay packages above $500,000.

Current US_MI trend analysis points to a continuation of the S&P's downward trend from its August 28th peek of 1,300.68.

WaMu was seized by the FDIC on Thursday night after regulators determined that the thrift's liquidity had reached unsafe levels.

Since Sept. 15 WaMu's deposits had decreased by $16.7 billion compelling Moody's to slash their credit rating to junk.

WaMu's assets are expected to be sold to JPMorgan for $1.9 billion; details of the transfer were not made available at this time. JPMorgan is expected to write down WaMu's loan portfolio by approximately $31 billion.

Distressed financials led trading on the big board today:

Washington Mutual, Freddie Mac, Fannie Mae and AIG each traded over 300 million shares on the day.

Current US_MI trend analysis points to a continuation of the S&P's downward trend from its August 28th peek of 1,300.68.

The Bush administration and Treasury Secretary Henry Paulson asked Congress for unchecked authority to buy $700 billion in bad mortgage investments.

Congressional leaders, however, are concerned that the plan does not do enough to protect taxpayers from the excesses on Wall Street.

As congress and other officials pored over the proposal, the Treasury, on Saturday, clarified the types of assets it would purchase. Paulson is asking for the authority to buy home loans, mortgage-backed securities, commercial mortgage related assets and, "other assets, as deemed necessary to effectively stabilize financial markets."

Investors concerned over the effectiveness of the Fed's $85 billion bailout of AIG rushed to buy equity and index put options, pushing the CBOE Volatility Index (^VIX) above 36 for the first time in 5 years.

The Mob Index activity level on US Exchanges (US_MI) has closed above 200 points on six of the last 10 trading days. Since August 26 the US_MI has trended higher showing no weakness in selling pressure. Current US_MI analysis points to a continued sell off in the broad market.

US markets closed higher today amid significant volatility. It was widely speculated that the Fed would cut the federal-funds rate by .25 or .5 percent. Following the announcement that the rate would remain unchanged the Dow dropped over 150 points but recovered to close at 11,059.02 up 141.51.

Financials led trading on the New York Stock Exchange. AIG trade volume was over 1.2 billion shares, followed by Citi, Wachovia and Washington Mutual.

The Fed seems to be reversing its prior position on a bailout of AIG and is expected to structure an $85 billion loan for an 80% stake in the company.

Current US_MI trend analysis points to a continuation of the S&P's downward trend from its August 28th peek of 1,300.68.

Over 14.5 billion shares exchanged hands on US equity exchanges today as the financial sector was rocked by the collapse of Lehman Brothers (LEH) and the looming credit rating downgrade of American International Group (AIG) to A minus from AA minus by Standard & Poor.

Current US_MI trend analysis points to a continuation of the S&P's downward trend from its August 28th peek of 1,300.68.

NYSE listed financials saw the most trading activity on the big board today. Trading in Lehman, Washington Mutual, AIG, Merrill Lynch, Wachovia, Citigroup, and Bank of America accounted for over 21% the total shares traded on the day.

NASDAQ's Tech sector securities including Intel, Microsoft, Oracle and Cisco accounted for over 25% of the total volume on the day.

Current US_MI trend analysis points to a continuation of the S&P's downward trend from its August 28th peek of 1,300.68.