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COGN , what is going on
- Thread starter IV_Trader
- Start date
Quote from IV_Trader:
with this pos ? An amazing 2000bp gains in DEC ( not reporting) month in few days , very heavy 45 calls volume ( COGN at 40) . Are criminals buying ahead of buyout ?
The 45 calls today were 62% bought on the ask, 38% sold on the bid. That's rarely the sign of insider knowledge--usually you'll see the vast majority on one side.
Still, overall volume is pretty bullish.
Jan & Dec 35P
Dec 35P
Dec 37.5P
Jan 40P
all have been almost exclusively sold.
Jan 40Ps so far are the largest dollar sink/source from options. $173k more in premium was sold than purchased at that strike.
Jan 35Cs were 100% purchased for $126k in premium.
Bullish outlook, but nothing "odd" here.
Quote from FullyArticulate:
The 45 calls today were 62% bought on the ask, 38% sold on the bid. That's rarely the sign of insider knowledge--usually you'll see the vast majority on one side.
Still, overall volume is pretty bullish.
Jan & Dec 35P
Dec 35P
Dec 37.5P
Jan 40P
all have been almost exclusively sold.
Jan 40Ps so far are the largest dollar sink/source from options. $173k more in premium was sold than purchased at that strike.
Jan 35Cs were 100% purchased for $126k in premium.
Bullish outlook, but nothing "odd" here.
FA , thanks for an bid/ask breakdown ; I don't have this info. I just happened to be in JAN vega trade and noticed this unusual ramp in DEC vols...
That's a reasonable point I didn't see until I reread your post--earnings are after Dec expiration. Why a 100% OI turnover in Dec 45 calls?
I don't think it's an insider due to the somewhat neutral balance of buyers and sellers, but still--14 days to move at least 12%? Without earnings to help?
Lots more volume on those 45 calls since my last post, they're now 59% bought, 41% sold.
Is there a risk they'll preannounce or something? The IV on December is nuts for a scheduled earnings date after expiration.
-Dec 45C +Jan 50C is free and seems reasonable.
I don't think it's an insider due to the somewhat neutral balance of buyers and sellers, but still--14 days to move at least 12%? Without earnings to help?
Lots more volume on those 45 calls since my last post, they're now 59% bought, 41% sold.
Is there a risk they'll preannounce or something? The IV on December is nuts for a scheduled earnings date after expiration.
-Dec 45C +Jan 50C is free and seems reasonable.
Quote from FullyArticulate:
That's a reasonable point I didn't see until I reread your post--earnings are after Dec expiration. Why a 100% OI turnover in Dec 45 calls?
I don't think it's an insider due to the somewhat neutral balance of buyers and sellers, but still--14 days to move at least 12%? Without earnings to help?
Lots more volume on those 45 calls since my last post, they're now 59% bought, 41% sold.
FA , exactly ! Plus the 2000bp ramp on DEC in 3 days , very weird !
OK , thats explains it...just a rumors...
http://www.thestreet.com/_yahoo/new...26052.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
http://www.thestreet.com/_yahoo/new...26052.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA