Research In Motion Options Active Ahead Of Earnings (RIMM)
March 31, 2010 3:50 PM
Research In Motion (NASDAQ: RIMM) options are seeing increased activity ahead of earnings after the bell. Recently Research In Motion (RIMM) has seen its shares rebound nicely off 62 in late January in hopes of increased global handset sales.
Analysts are hoping for $3.92 billion in sales, which is 10% higher than the previous quarter. The street is estimating 1.28 a share. RIMM shares are currently down 1%, a late session NASDAQ sell off has taken hold of the market. The late sell off could be hinting towards something unexpected from (NASDAQ: RIMM).
Options activity is indicating traders are fairly neutral in their expectations. The front month 80 calls and 70 puts are seeing the most activity. The majority of the volume is traders collaring their long positions for downside protection. On the other side of the trade, the 75/70 put spread has been purchased quite a few time in the last hour of trading.
