Verifone (PAY) is up $2.77 to $20.08 after posting better than expected second quarter earnings and also raising guidance for the full year. One investor might be looking to hedge recent gains in the stock, as Oct 25 calls were apparently sold at 75 cents to help finance the Oct 15 – 20 put spread at $2.10, 6000X on PHLX.
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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.