Cogent Calls and CB Richard Ellis Puts Heating Up
Filed under: Stocks to Buy, Stocks to Sell
Option traders appear to be setting up for a bullish move on Cogent Inc. (COGT). Traders plowed into 1,571 new call option contracts — 3.27 times the average volume — on the stock on Friday. And we know that traders were eager to get into this trade because 99% of the trades came in on the ask price.
Recently, 3M Company (MMM) announced that it was going to acquire Cogent for $10.50 per share. The stock closed Friday at $11.01, up 19.53% during the past month.
Option traders also look like they are preparing for a bearish move on CB Richard Ellis Group, Inc. (CBG). Traders bought 4,130.00 new put option contracts — 2.25 times the average volume — on the stock. A full 94% of these trades also came in on the ask price.
The stock closed Friday at $17.95, up 3.26% during the past month.
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Cogent Calls and CB Richard Ellis Puts Heating Up originally appeared on BloggingStocks on Fri, 03 Sep 2010 18:00:00 EST. Please see our terms for use of feeds.
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