E*Trade (NASDAQ: ETFC) "is a high higher-risk trade, so do not bet the house; however, I believe the opportunity is still compelling," says Ian Cooper in Small Cap Trading Pit.
"About 10 insiders are betting heavy that E*Trade Financial will turn itself around this year. The filings are revealed here:
- Hayter, director 4,917 at $4.06
- Layton, director 245,800 at $4.06
- Fisher, director 31,806 at $4.06
- Randall, director 29,500 at $4.06
- Parks, director 24,586 at $4.06
- Raffaeli, director 12,293 at $4.06
- Lilien, acting CEO 7,376 at $4.06
- Weaver, director 68,843 at $4.06
- Brewster, director 24,586 at $4.06
- Willard, director 11,942 at $3.98 and 13,058 at $3.99
"And for them to be buying after a one-month triple digit move speaks volumes on confidence, which may explain the latest surge in option volume. Sure, the stock took a major dive in 2007, but that's because it got itself involved in a business it shouldn't have been in -- subprime.
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