MEMC Electronic Materials Inc (WFR) $9.85 -2.48%
From Steve Smith. MEMC shares are off 17c to $9.93, a new 52-week low, and have slumped some 36% since May1st. The notable trade is the June $12 puts and October $9 which have each traded 5,000 contracts. This appears to be a sale to close the Junes and a new purchase of the Octs for a $1.12 net credit as bearish strategist is taking some money off the table but extending the downside exposure.
Category: All Stocks, Mid Cap Stocks, Semiconductors
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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.
