Research In Motion Ltd (Nasdaq:RIMM) Breaches 200 Day M.A.

Research In Motion Ltd (Nasdaq: RIMM) Breaches 200 Day M.A.

Research In Motion Ltd shares plummeted in early trading today crossing below the ever important 200 day M.A. Average options open interest is at 1,036,110 and rising implied volatility. December Puts are rising but can still offer great profit margin if carefully picked this week

At $64.33 RIMM has a good chance to drop further and even mirror its drop from previous highs, a potential sharp $20 drop! The only thing I would pay attention to, is whether RIMM can settle below the 200 day M.A. for today and tomorrow before it is considered a good choice for a Put buying strategy.