Even amid a monster rally on Wall Street, Research In Motion (RIMM) can’t get off the schneide Tuesday. Shares touched new 52-week lows and are down 31 cents to $12.58. Meanwhile, the top options trade on the Blackberry-maker is a 5000-lot of Feb $12 puts bought for $1.06 on AMEX. 33,000 now traded against 18,582 in open interest, as some players in the options market seem to expect the stock to now break below $12 in early-2012.
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.