Massive premium purchase in Corning (GLW) after an investor buys 40,000 Dec 17 puts at 50 cents each. Shares are down 24 cents to $18.22 and 44.9K now traded. November 17 and 19s are seeing interest as well. Overall put volume in Corning has surged to about 75K and 15X the recent average daily. Implied volatility is up 6 percent to 35 ahead of earnings, Nov 1 (before market).
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.