Two Large Block Trades Pushes Spansion (CODE) Shares Higher; Volatility Up
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Spansion (NYSE: CODE) shares are higher on the session as two large block trades earlier in the session has investors moving in.
At 10:50am EDT, it looks like 601,000 shares crossed, pushing Spansion above $10.80. At 11:51am EDT, about 389,000 shares crossed, moving the stock above $10.92. Those two trades alone would amount to 2.7 times the trailing three-month daily average.
Implied volatility is up 4 percent from Monday's close and at 111 percent of its daily average over the last year.
Shares are up 3.8 percent.
At 10:50am EDT, it looks like 601,000 shares crossed, pushing Spansion above $10.80. At 11:51am EDT, about 389,000 shares crossed, moving the stock above $10.92. Those two trades alone would amount to 2.7 times the trailing three-month daily average.
Implied volatility is up 4 percent from Monday's close and at 111 percent of its daily average over the last year.
Shares are up 3.8 percent.
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