iRobot Corporation (IRBT) Bulls Clean Up As Shares Soar After Earnings

Corning Incorporated (NYSE:GLW) – Shares in high-performance glass manufacturer, Corning Incorporated (NYSE:GLW), rallied 5.0% today to $13.82 after the company reported first-quarter profit that exceeded average analyst estimates, increased its quarterly dividend by one penny and announced a $2 billion stock-buyback plan. Big prints in August expiry calls today, however, suggest the stock, which today trades at the highest level since October of 2012, bet the shares are unlikely to breakout front here during the next four months. It looks like one trader sold around 65,000 calls at the Aug $14 strike, pocketing an average premium of $0.49 per contract. The strategist keeps the full amount of premium as long as the calls expire worthless at August expiration. Perhaps the call seller is long the stock, and willing to have a hefty chunk of shares called from him or her at expiration. Shares in Corning Incorporated (NYSE:GLW) bumped up against resistance in the mid-$14 level around this time last year and have not managed to top $14.00 since May of 2012.

Caitlin Duffy
Equity Options Analyst

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