Schaeffer's Daily Market Blog Features Intuit, TiVo, ValueClick, Sepracor, and Computer Associates International.

CINCINNATI -- Among the stocks featured in the February 18 edition of Schaeffer's Market Blog are Intuit (NASDAQ:INTU), TiVo (NASDAQ:TIVO), ValueClick (NASDAQ:VCLK), Sepracor (NASDAQ:SEPR), and Computer Associates International (NYSE:CA). Schaeffer's Market Blog are just one of the many free market commentaries written everyday at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The Market Blog is written throughout every trading day by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. For additional information about this report or to have it delivered to you free via email every day click on the following link. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMOU1M&PAGE=1.

Schaeffer's Market Blog for Friday, February 18, 2005:

Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1

11:06 AM Intuit Options Active Ahead of Earnings Report

Last night after the market close, Intuit (NASDAQ:INTU) reported quarterly earnings of 82 cents per share, six cents ahead of the Street estimate. The company also said third-quarter and fourth-quarter earnings will come in below prior estimates. Yesterday, options on INTU traded actively ahead of the earnings report. Call volume was 3.9 times heavier than average and put volume was 7.3 times heavier than average. More than 6,800 call contracts crossed the tape, with the most active being the February 42.50 strike (IQU BV). More than 7,400 put contracts changed hands, with the most active being the February 37.50 strike (IQU NU). A look at overall option activity shows that investors currently hold 26,300 calls compared with 15,300 puts in the near term. The resultant Schaeffer's put/call open interest ratio of 0.58 is lower than 87 percent of all readings taken over the past year. Today INTU is trading 90 cents higher to $41.03.

11:09 AM TiVo Subscriber Base Surges

TiVo (NASDAQ:TIVO), the originator of digital television recording service, said early Friday that it surpassed the three-million-subscriber mark, adding about 698,000 new customers during its fiscal fourth quarter of last year. Roughly 447,000 of these were TiVo subscriptions paired with DirecTV satellite service. The stock has rallied more than seven percent this morning, overtaking its 10-day and 20-day moving averages for the first time since January 3. TIVO has been in the doldrums for months amid increased competitive pressures and higher marketing costs. On the sentiment front, short interest comprises more than 30 percent of the equity's float. And while the stock essentially holds penny-stock status, there are still 14,000 call positions on TIVO and about 4,500 puts. As far as Wall Street is concerned, analysts have given the stock three "strong buy" ratings, eight "holds," and three outright "sells."

11:28 AM ValueClick Gaps Higher; Pulls Back

To follow up from yesterday's commentary, ValueClick (NASDAQ:VCLK) gapped higher this morning after reporting better-than-expected fourth-quarter profits. The stock opened at $13.50, which was a 6.6-percent gain over yesterday's closing price. Since the open, however, the stock has been dropping, and is now more than three percent off its high today. Extreme optimism may be contributing to the pullback, as calls are outnumber puts at the 12.50 strike for February and March by a ratio of more than two to one.

11:33 AM Options on Sepracor Trade Actively

Yesterday, options on Sepracor (NASDAQ:SEPR) traded briskly, as call volume was 6.7 times heavier than average and put volume was 4.7 times heavier than average. Nearly 36,000 call contracts crossed the tape, with the most active being the April 75 strike (ERU DO). Around 4,500 ERU DO contracts translated into new open interest today. More than 10,100 put contracts changed hands, with the most active being the March 55 strike (ERU OK). Less than 1,000 contracts of ERU OK translated into new open positions today. Yesterday, rumors circulated that the company was considering a possible sale. Today, SEPR was upgraded from "sell" to "hold" at Smith Barney. At last check, SEPR was trading $1.99 higher to $65.60.

1:38 PM Increasing Put Activity on Computer Associates

Put option activity on Computer Associates International (NYSE:CA) has increased significantly over the past two days. Yesterday's action bumped the Schaeffer put/call open interest ratio from 1.27 up to 1.40, and given today's put volume on CA of nearly 20,000 contracts, this number should move even higher. The increase in pessimism on the part of options traders could be a sign that selling pressure on the shares is waning, and the stock could form a short-term bottom around current levels.

The above are just a few of today's Daily Market Blog entries. Click here to read all of today's Daily Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1

Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMOU1M&PAGE=1.

About Schaeffer's Investment Research (www.SchaeffersResearch.com)

Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, http://www.SchaeffersResearch.com, is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method.