Electronic Arts (ERTS) is up 24 cents to $16.83 and an investors sells Jan $15 puts, 30000X, at $1.48 apiece. Looks like an opening premium seller, perhaps willing to buy 3 mln shares at $15 each if ERTS falls below that level by the January 2011 options expiration.
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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.