EBAY loses 9 cents to $28.87 and the Aug 29 – 31 bullish risk-reversal is apparently sold at $1.03, 4833X. Calls look opening and so this might be a new position, probably tied to 100K shares at $28.82. Shares are down 14.9 percent since May 10 and have been trading in a narrow range just below a 200-day exponential moving average in recent days. Earnings slated for July 20 (after market).
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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.