Ocwen Financial Corp (OCN) $18.02 -0.50%
Ocwen Financial (OCN), an Atlanta, GA savings and loan, hit a 52-week high this morning, but is now down a dime to $18.01. Still, options order flow on the stock is bullish and includes a lot of 5,000 Jan 20 calls for $1.35 per contract this morning on ISE. A customer bought to open, according to ISEE. 7,750 now traded. Another 1,460 Jan 22.5 calls have changed hands. 9,600 calls and only 27 puts traded on the stock and implied volatility is moving up 13 percent to 34.5. OCN was the subject of bullish order flow ten days ago as well, as players were focused on at-the-money Jan 17.5 calls (see 6/11 color). Shares are up 2.7 percent since that time and the focus is now on out-of-the-money calls.
Category: All Stocks, Banks, Small Cap Stocks
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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.
