NEW YORK (AVAFIN) -- Investors noted that there was a significantly low put/call volume alert raised for Corning. This was caused by a total
of 27,385 call and 3,915 put contracts that were traded today. There were 7.0 calls traded for each put contract
yielding a 0.14 put/call ratio.
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Put/Call ratio can be regarded as a predictor of investment sentiment, indicating what experienced
investors are doing in preparation for a move of an underlying equity. A high put/call ratio
suggests that the investor sentiment is bearish and that investors are expecting the underlying
stock price to decrease. On the other hand, a low put/call ratio implies that the investor
sentiment is bullish and that investors are expecting the underlying stock price to increase.
Thus, unusual volume provides reliable clues that the stock is expected to make a move.
Shares of GLW closed at $11.95 during the previous session. During the session,
the stock hit a low of $11.77 and high of $12.03. The current trading volume of 28M is
greater than average volume of 15M shares. GLW is trading below
the 50 day moving average and lower than the 200 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 1.20% within the last quarter.
Corning is the leading designer and manufacturer of glass and ceramic substrates found in liquid crystal displays, fiber-optic cables, automobiles, and laboratory products. The company has five primary divisions--display technologies, telecommunications, environmental technologies, specialty materials, and life sciences--with nearly 40% of revenue generated from displays.