Renren (RENN) loses 26 cents to $4.22 and one player seems to see a floor around $4 and wrote a 10,000-lot of Jul 4 puts on the stock at 30 cents per contract on ISE. A firm sold-to-open, according to ISEE, and looks tied to 303K shares at $4.34. The stock is dwon 42.3 percent from mid-April highs, but still up 31.5 percent from the 52-week low of $3.21 seen in December.
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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.