Cogent Calls and CB Richard Ellis Puts Heating Up

Posted Sep 3rd 2010 6:00PM by Wade Hansen
Filed under: Stocks to Buy, Stocks to Sell

options traders Option traders appear to be setting up for a bullish move on Cogent Inc. (COGT). Traders plowed into 1,571 new call option contracts -- 3.27 times the average volume -- on the stock on Friday. And we know that traders were eager to get into this trade because 99% of the trades came in on the ask price.

Recently, 3M Company (MMM) announced that it was going to acquire Cogent for $10.50 per share. The stock closed Friday at $11.01, up 19.53% during the past month.

Option traders also look like they are preparing for a bearish move on CB Richard Ellis Group, Inc. (CBG). Traders bought 4,130.00 new put option contracts -- 2.25 times the average volume -- on the stock. A full 94% of these trades also came in on the ask price.

The stock closed Friday at $17.95, up 3.26% during the past month.

Other stocks with notable call option accumulations include:

Kilroy Realty Corp. (KRC) 1,468 calls -- 2191% above normal -- 96% on the ask
InfoSpace Inc. (INSP) 1,911 calls -- 2852% above normal -- 84% on the ask
Dollar General Corp. (DG) 2,753 calls -- 2039% above normal -- 75% on the ask

Other stocks with notable put option accumulations include:

Hot Topic Inc. (HOTT) 1,334 calls -- 1283% above normal -- 91% on the ask
Thompson Creek Metals Company Inc. (TC) 1,435 calls -- 579% above normal -- 85% on the ask
Riverbed Technology, Inc. (RVBD) 7,527 calls -- 393% above normal -- 83% on the ask

Disclosure: Hansen does not own shares of the stocks discussed above. Positions can change without notice.

Tags: cb richard ellis, cbg, cogent, cogt, dg, dollar general, hot topic, hott, infospace, insp, inthenews, kilroy realty, krc, riverbed technology, rvbd, tc, thompson creek metals