Rambus (RMBS) suddenly saw an impressive spike to $21.69 per share ten minutes ago, but has since eased back to $19.59, up 32 cents on the session. Options are seeing a flurry of activity as well. 20,000 calls and 22,000 puts in the chipmaker so far. The action is mostly scattered across various May puts and calls. Out-of-the-money 17 puts and 25 calls are the most actives. Implied volatility jumped 14 percent to 79. The volatile action in Rambus follows an Appeals Court decision in the Hynix/Micron case (Briefing).
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.