Pandora (P) adds 75 cents to $12.83 and one strategist sells 2,225 Feb $10 puts on the stock at 25 cents per contract to open. 3,218 now traded against 563 in open interest. Feb 10 puts on the stock are 22 percent OTM with 30 days of life remaining. Shares are up today after Raymond James initiated the stock with an Outperform rating. P has now rallied 28 percent off its 2012 low of $10.01 and today’s put writers are possibly looking for the stock to hold those lows through mid-Feb.
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.