While clinical laboratory Quest Diagnostics (DGX) had a rough outing last week, speculators seeking a discount may want to keep DGX stock on their radar. In the trailing five sessions, the equity dropped nearly 4%. Over the past month, it’s down just over 6%. While the volatility may be alarming ahead of its upcoming earnings report (scheduled for July 22), there’s intriguing evidence of a possible bounce back.
First, one could potentially read between the lines regarding its derivative market activities. Last Friday, DGX stock represented one of the highlights of Barchart’s screener for unusual stock options volume. Specifically, total volume hit 4,717 contracts, representing a 353.12% lift over the trailing one-month average. However, put volume dramatically outpaced call volume, 4,201 contracts to 516.
