Assured Guaranty (AGO) is up 18 cents to $11.86 and a 10000-lot of Jan14 $8 puts is bought on the stock for $1.55 per contract. It’s opening, tied to 200K shares for $11.95 and possibly a longer-term hedge on the Bermudian, mortgage insurance company. Shares have been under pressure in recent months and have lost 37.5 percent since touching 52-week highs of more than $19 in mid-March.
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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.