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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

The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither Interactive Brokers LLC nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither IB nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not necessarily indicative of future results.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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