Cognizant Tech (CTSH) adds 66 cents to $66.67 and options action is heating up in the Nov calls ahead of earnings. A multi-exchange sweep of 3965 Nov 67.5 calls traded at the $1.55 asking price. Another sweep of 2228 Nov 70 calls traded at the 80-cent asking price. Looks like call buying and ISEE data hints at non-customer or firm buyer. 7150 calls and 550 puts now traded on the Teaneck, NJ business software maker. Implied volatility is up 3 percent to 36 ahead of a Nov 1 (before market) earnings report.
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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.