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Barchart
Barchart
Mark R. Hake, CFA

Corning Delivers Strong FCF Results, But Investors Play GLW Stock's Drop With an Unusual Short-Put Play

GLW Corning FCF Corning Inc PT Barchart

Heavy, unusual put option volume today in Corning Inc. (GLW) shows some investors believe GLW is cheap after generating strong free cash flow in Q2. The out-of-the-money 6-month GLW short put play is a bullish indicator for these investors.

GLW is down today in midday trading at $124.64. In fact, it's now at a 6-month trough after peaking at $255.69 on June 29. This seems completely undeserved, especially after its strong Q2 results, released yesterday (July 28) before the market open.

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