Review of Eastman Kodak Trading (EK)

Posted in General, Options 
January 13th, 2010

Earlier today at 247wallst.com, we had discussed the great mystery options trading in Eastman Kodak Co. (NYSE: EK).  It turns out that the volume picked up some additional notice, because the share volume in common stock caught up as well.  The stock just closed at $4.93 on 13.1 million shares, versus an average volume of 6.1 million shares and versus a 52-week trading range of $2.01 to $7.54.  Here was the big fox hunt though…. 38,177 contracts of the FEB2010 $5.00 CALLS traded hands today.  The prior open interest was a mere 2,517 contracts.  This is going to have many buyers and analysts scratching their heads tonight.

Joe Kunkle of OptionsHawk.com told us there was about 20,000 options bought close to the ask today near the offer at $0.28 when the offer was at $0.30.

Stay tuned, because this will be one of the more talked about ‘stealth moves higher’ tonight.  It is likely that one of the Najarian brothers will even be touting this one tonight on unusual options movers on CNBC.

JON C. OGG

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