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Option players bet on Corning (NYSE:GLW)

Thursday, 51,412 Calls and 11,623 Put contracts were traded, thus raising a low Put/Call ratio alert on shares of Corning.

Today’s traded Put/Call ratio for Corning was 0.23. Overall call volume was running 4.4x the Put volume.

Unusual P/C volume provides reliable clues that the stock is expected to make a move. Players can use the Put/Call ratio statistics to measure trader sentiment.

A high Put/Call ratio suggests that the overall investment sentiment is Bearish and that investors expect the underlying stock to decrease in value.

On the other hand, a low Put/Call ratio implies that player sentiment is Bullish based on the large amount of Call options.

Shares of Corning rose 0.15 (+1.08%) to 14.05 in Thursday’s trading session.

The price of GLW ranged between 13.83 and 14.06.

Volume was 28-M/shrs in relation to the 3 month average volume of 19-M/shrs.

GLW is trading above the 50-Day Moving Average and below the 200-Day Moving Average.

The stock’s 52 wk low is 11.51 and 52 wk high is 22.05. Within the last Quarter, the shares have gained 4.77% of their current value.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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