Cisco Systems Inc (CSCO) $17.15 -8.68%
Cisco (CSCO) is down $1.61 to $17.16 on disappointing guidance and one player seized the weakness to collect 23 cents on an Oct 16 – 19 bullish risk-reversal, 54500X. The big combo is possibly tied to 500K shares at $17.16 and looks like an opening position targeting a rebound in Cisco through mid-October. The stock had a brief stint above $21 per share at the end of the first quarter before coming under pressure early in the Q2. CSCO is now 19.4 percent below its Apr 2nd 52-week high.
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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.
