Stocks quoted in this article:
After racing as high as 301-3/4 earlier today, Corning (GLW – 292-1/4) is down over two points in late-afternoon trading. This decline comes in front of the company's three-for-one stock split, which will occur before Wednesday's opening bell. GLW is presently poised to tally its fifth consecutive losing session, as it has now dropped beneath its upsloping 10-week moving average. The equity has closed only one week below this intermediate-term trendline since the beginning of June.
On the options front today, 2,168 and 1,657 contracts have crossed the tape on the October 290 and 300 calls, respectively. The October 290 call has open interest of 1,530 contracts, while open interest on the October 300 call stands at 3,323 contracts.