Trading is active in CREE today, amid strength in the space (LEDS, AIXG) Wednesday. CREE is up $1.28 to $28.56 on volume of 1.2 million shares, which compares to expected volume of 793,000. Meanwhile, 5,750 calls and 680 puts traded on the stock. February 28 calls, which are now 56 cents ITM and expiring at the end of the week, are the most actives. 1,860 traded. Feb 25, Feb 30, mar 27.5, and Mar 25 calls on CREE are seeing interest as well. The stock is rebounding from a 3-day 8.5 percent skid and, after a dismal performance in 2011, is up almost 30 percent year-to-date. Earnings were last reported on Jan 17.
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.