Xerox Corp (XRX) $7.84 -1.01%
Heavy trading continues in Xerox (XRX). Shares, which came under pressure Monday on news XRX is acquiring Affiliated Computer Services (ACS), are down a dime to $7.82. Trading was brisk Monday on the merger news and again Tuesday. Open interest in XRX calls increased by 27K, compared to 3,260 puts, following yesterday’s session. Another 25K calls and 17K puts traded today. Recent trades include 2,381 April 8 calls for $1.05 on the ISE, which is an opening buyer, according to ISEE data. 7,400 contracts now traded. Implied volatility (average) is moving up to 51.5, from about 50.25 yesterday and 42.5 before the acquisition plans were announced.
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.
