Corning Inc (GLW) $18.31 -1.24%
Corning (GLW) loses 22 cents to $18.32 and an Aug 18 – 19 (1X2) call ratio spread trades at a penny, 5000X. The strategist bought 1 and sold 2, possibly targeting a move to $19 through the August expiration, which translates into a 4.3 percent move higher over the next 45 days. It might also be an adjustment or closing trade, as open interest is sufficent to cover in both contracts. Corning saw a flurry of activity late last week as well (see 6/30 color). As a rsult, open interest in GLW calls increased to 281K from 202K, or by 39.1 percent, during the past week.
Category: All Stocks, Large Cap Stocks, Technology Hardware & Equipment
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.
