Corning Incorporated (GLW) Traders Eye Multi-Month Highs

Corning Incorporated is up today on a pair of fundamental developments

Digital Content Group
Dec 3, 2014 at 2:02 PM
facebook X logo linkedin


Corning Incorporated (NYSE:GLW) has rallied 2.7% to trade at $21.58, after increasing its dividend and introducing a $1.5 billion share repurchase program. These developments are bringing call traders to the table, as the contracts are running at double the usual intraday pace. In fact, each of the 10 most active strikes is a call.

In the top position is the weekly 12/5 21.50-strike call. Four-fifths of the volume here has transpired at the ask price, and volume outstrips open interest, making it safe to assume new bullish bets are being initiated. While these GLW calls are already in the money, the buyers need the stock to finish above breakeven at $21.66 (strike plus the volume-weighted average price of $0.16) at Friday's close, when the weekly series expires.

Looking at the charts, Corning Incorporated (NYSE:GLW) -- despite surging nearly 21% this year -- hasn't ended a week atop $21.50 since late July. As such, delta on the in-the-money call is still about the flip of a coin, or 0.51.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI