Corinthian Colleges Inc (COCO) $5.16 +9.32%
Corinthian Colleges (COCO) options are active for a second day. Speculative call buying was seen yesterday (see 1/13 color – premium). Today, shares are up 44 cents to $5.16 after RBC raised the stock to Outperform from UnderPerform. 9,790 calls and 430 puts already traded on the for profit education company. The top trade is a block of 4740 Feb 6 calls at 20 cents when market was 20 to 30 cents. Might be a liquidating trade. 5,078 now traded vs. 8,868 in open interest. Jan 5 calls have traded 1330X and are the second most actives. Implied volatility is elevated at 85, but not much changed so far today.
Category: All Stocks, Large Cap Stocks, Retail
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
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.
