Apollo Group (APOL) is down 21 cents to $46.32 and touched a new 52-week low Wednesday. Noteworthy options action includes an Aug 40 – 45 put spread, which was apparently bought at $1.75, 2000X in afternoon trading. Looks likes a bearish play heading into the Phoenix, AZ education company’s June 30 earnings release.
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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.