Credit Suisse (CS), which lost 9.4 percent yeserday and fell to new 52-week lows after the Swiss National Bank urged the financial services giant to raise capital, is up 92 cents to $18.89 in heavy trading of more than 4 million shares. Options volume includes 7,520 calls and 1,685 puts, or 3X the daily average. July 19, Jul 20 and Sep 21 calls are the most actives, as some players might be anticipating good news over the weekend relative to the EU debt crisis and followed by a possible rebound in CS shares.
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.