Facbebook (FB) is down 40 cents to $19.48 after Sterne Agee maintained a Buy rating on the stock, but lowered the price target to $26 from $37 per share. In options action, recent trades on FB include a multi-exchange sweep of 15,811 Nov 22 puts for $3.10 per contract. ISEE data indicating an opening customer buyer. 16,949 now traded against 16,797 in open interest. Facebook is scheduled to report earnings on Oct 23.
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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.