Cognizant Technology (CTSH) loses $2.78 to $57.44 in active trading of 1.8 million shares and 7500 July 80 calls are bought on the stock for 5 cents per contract. It probably closes. Open interest is 7,638 and the largest position in the name. 10,000 calls and 3,135 puts traded on the stock and 30-day ATM Vols are moving up 12.5 percent to 33.5. The Teaneck, NJ software company was the subject of bearish slow earlier this week as well (see 7/3 color). No news on the ticker since that time.
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.