Cablevision Systems (CVC) loses a nickel to $14.36 and a 7000-lot of Mar 16 calls trades on the stock for 35 cents when the market was 25 to 35 cents. Looks opening and tied to 170K shares at $14.08. It’s possibly a bet that shares will rebound and recaputure $16 after a 60.4 percent loss suffered since June. The stock was removed from a Top Picks list at Citi today. Earnings come into play mid-Feb.
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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.