Bad time to buy puts.
linkLehman jumped $1.24, or 4.1 percent, to $31.85 for the biggest gain in about three weeks. Merrill's Moszkowski wrote in a research note today that the stock, which tumbled about 50 percent this year, ``has over-corrected to the downside.'' He raised his recommendation to ``buy'' from ``underperform.''
More than 73 million Lehman shares changed hands in New York today as the stock rallied from a drop of as much as 6.8 percent, making it the most-traded U.S. company tracked by Bloomberg for a second straight session.