EarthLink Inc (ELNK) $6.65 +0.00%
Earthlink (ELNK, news, chart, volatility) volume jumped to two times typical levels Friday. 6,044 puts and only 45 calls traded on the day. Most of the volume was in the January 2010 puts at the 5 line after investor sold 6,000 contracts. Open interest increased by about 6,000, suggesting an opening put sale. If so, the strategist collected 75 cents and might be willing to buy ELNK for $5 per share between now and January 2010 and or let the puts expire worthless. ENLK is at $6.66.
Category: All Stocks, Small Cap Stocks, Software & Computer Services
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
