Calls Purchased on Cognizant Technology (CTSH)
October 28, 2010 1:33 PM
Shares of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) are higher on the session by 0.98%, currently trading at $66.66. The stock has been moving largely higher over the past six months trending higher above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the November $67.50 and $70.00 calls were purchased 4,600 times and 3,400 times, respectively, on open interest of 1,218 contracts and 3,016 contracts, respectively. This signals new positioning on both strikes.
Overall call volume is now running at 4.42x the daily average, with 85% of all calls traded being purchases on the offer.
Cognizant Technology Solutions Corporation is a provider of custom information technology consulting and technology services, and outsourcing services. The company's customers are primarily Global 2000 companies located in North America, Europe and Asia.
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