Cree Research (CREE) loses $1.17 to $36.53 and touched a new 52-week low today. Shares are now down 45 percent year-to-date. In CREE options action today, one investor apparently pays $1.80 for the Sep 37.5 – 42.5 call spread, 3600X. The position might roll down in strikes and seems to be a contrarian (bullish) play on CREE. No news on the ticker.
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.