Reuters: Global Markets: Green Mountain rallies sharply in afternoon trading

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Green Mountain rallies sharply in afternoon trading Sep 10th 2012, 19:33 By Ryan Vlastelica NEW YORK | Mon Sep 10, 2012 3:33pm EDT NEW YORK (Reuters) - Shares of Green Mountain Coffee Roasters Inc (GMCR.O) climbed 9.4 percent to $30.43 on heavy volume on Monday, its second straight session of steep gains. About 20 million shares were traded as of 3:20 p.m. EDT, well above the company's 50-day average trading volume of about 6.7 million. The company's shares surged 13 percent on Friday's session after detailing new product launches and on bullish analyst commentary, putting its gains over the past two sessions to 22 percent. Still, the stock is down 33 percent year-to-date. Green Mountain is a volatile stock, and was a noted favorite among momentum investors in 2011 as the stock more than tripled. It has been a rough ride since hitting a high at $115.98 almost a year ago and has been a favored target of short-sellers since then. About two-thirds of the shares available for short bets are currently being borrowed for that purpose, compared with a rate of 27 percent for the average stock, according to Data Explorers, a Markit company. Overall option volume on Green Mountain was 3.5 times the average daily turnover with 59,000 puts and 52,000 calls traded thus far late on Monday, according to options analytics firm Trade Alert. The most active options are the October $30 strike puts followed by the weekly $28 strike put expiring this Friday (Reporting by Ryan Vlastelica in New York and Doris Frankel in Chicago; Editing by Phil Berlowitz) Link this Share this Digg this Email Reprints

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