Research In Motion Ltd (RIMM) $27.94 +7.93%
Research In Motion (RIMM) adds $2 to $27.89 and one investor sells 10,380 Sep 27.5 puts at $2.72 to buy the Jan 17.5 – 27.5 put spread at $3.14, 18200X. Looks like a roll, as the Jan put spread looks opening. RIM tumbled 21.5 percent Friday on earnings news and touched a new 52-week low of $25.82 Monday. Shares are down 51.9 percent year-to-date and today’s spread trader appears to be bracing for additional weakness through mid-Jan 2012.
Category: All Stocks, Large Cap Stocks, Technology Hardware & Equipment
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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.
