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.
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.
it was low 40th...Yes , current vols are around 53 , but only one hour ago it was 63...so weird...and crazy volume is still going on , huge transactions
OK , thats explains it...just a rumors... http://www.thestreet.com/_yahoo/new...26052.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA