Motorola Solutions (MSI) adds $1.03 to $47.87 and options volume on the stock is more than 10X the daily average, being driven by a Jun 46 – Jul 45 put spread for 64 cents, 3100X. The spread might roll a position in Jun 46 puts opened on May 18 for 99 cents per contract. The stock is down 2.5 percent since that time, but the magnitude of the move hasn’t been sufficient enough to offset the impact of time decay. The puts are being sold at 53 cents. A new position in Jul 45 puts opened for $1.17.
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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.