Johnson Controls (JCI), the Milwaukee, WI auto parts maker, is off $1 to $31.90 and options volume is 2X the average daily, with 7840 puts and 1380 calls traded so far. April 31 puts have traded 3045X (93% Ask) vs. 710 in open interest. April 30 and May 32 puts are seeing interest as well. Implied volatility is up 6.8 percent to 31.5 and the overall sentiment looks cautious. It might be a play on earnings, which are expected around April 20 (after the expiration), but no date has been posted yet on the company’s web site. No other recent news. Cramer made positive comments on April 5 “Mad Money.”
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.