Semiconductor equipment maker Applied Materials (AMAT) is down a nickel to $11.84 and almost 10K June 10 puts traded ahead of the company’s earnings report (Tuesday, after market). The top three trades (2,045, 1,169, and 899 contracts) traded on the PHLX around 10:40 and hit at the offer (30 cents). Existing open interest is 1,362 and the activity seems to be put buying ahead of earnings. Implied volatility is up to 60.6 from 58.3 late Friday.
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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.