Unusual Trading Activity for Corning

Posted on 02/07/2013 by Tom Kaplan

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NEW YORK (AVAFIN) -- Options traders were heavily trading call contracts during the last trading session establishing a new 3-month call volume record. A total of 3,422 put and 12,939 calls were traded where call contracts outnumbered puts 3.8:1, yielding a 0.26 ratio.

Options can be used as predictors of stock behavior. Investors can use put/call ratios as technical indicators to read for signs of institutional sentiment. The put/call ratios offer insight to investors and can be used as either a direct or contrarian indicator for trading decisions. Unusual volume provides reliable clues that the stock is expected to make a move.

The Company is a provider of high-performance glass for LCD televisions, computer monitors, and other information display applications; optical fiber and cable and hardware and equipment products.

Shares of Corning edged up $0.14 (+1.15%) to $12.32. The price of the stock ranged between a low of $12.14 and $12.33 respectively. The trading volume of 16M is above the 90 day average volume of 15M shares. GLW is trading below the 50 day moving average. The stock's 52 week low is $10.62 and 52 week high is $14.58. To date, the stock has gained 1.50% within the last week. The stock has a P/E ratio of 10.59 and a dividend yield of 2.59%.

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