Calls Purchased on Flextronics (FLEX)

Shares of Flextronics International LTD

ended the session lower by 10.53%, trading at $5.52. The stock came under selling pressure when Ticonderoga Securities downgraded the name to Neutral from Buy. Options traders are betting that the sell off is overdone. Though action was primarily in small lots, call volume was running at 3x the daily average with over 71% of all calls traded being purchases on the offer. Traders were focusing on the $5.00, $7.50, and $10.00 strikes in multiple months. Flextronics International Ltd. is a provider of vertically-integrated advanced design and electronics manufacturing services to original equipment manufacturers. It provides these services to various markets, which include infrastructure, mobile communication devices, computing, consumer digital devices, industrial, semiconductor capital equipment, clean technology, aerospace and defense, and white goods, automotive and marine and medical devices.