Research In Motion (RIMM) loses 51 cents to $22,22 and recent trades on the Blackberry-maker include a Nov 15 – 25 bullish risk-reversal at 85 cents, 15000X. The position was tied to 400K shares at $22.24 and looks opening. RIMM is down today and has now lost 24.9 percent since earnings were reported Thursday afternoon. The stock is back within striking distance (1.6%) of a 52-week closing low of $21.87 set on 8/8. Today’s combo might reflect expectations that RIMM will hold those lows and bounce higher through mid-November.
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.