Crown Castle International Corp (CCI) $12.54 -22.21%
Crown Castle (CCI, news, chart, volatility) shares are down $3.78 to $12.34, as the stock becomes the latest telecomm stock to fall victim to a two-day sell-off in the sector. Yesterday, Vimpel Communications (VIP) fell 26.8 percent and Mobile Telesystems (MBT) 28.4 percent on no news. Heavy put volume accompanied the decline in shares of both. Today, it’s CCI’s turn. Shares are down 23.45 percent and volume in the options market is running 6 times the usual. 7,300 puts have traded, roughly four times the number of call options. Active buying is being seen in the December 10 and November 15 put options. Implied vols are moving above 100, compared to 84 the day before.
Category: All Stocks, Mid Cap Stocks, Technology Hardware & Equipment
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
