Cognizant Technology (CTSH) loses 7 cents to $65.90 and a Feb 60 – 70 bearish risk-reversal is apparently sold on the Teaneck, NJ business software company at 20 cents, 1000X to open. Shares are on a five-day 4.4 percent winning run higher and the bearish combo might have been initiated to hedge or “collar” the stock heading into a early-Feb 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.