Puts Sold on Silicon Labs (SLAB)
July 30, 2010 12:20 PM
Shares of Slicon Laboratories Inc. (NASDAQ: SLAB) are lower on the session by 0.79%, currently trading at $40.18. The stock has been moving largely lower over the past four months, off from recent highs near $53.00.
Options traders are selling puts on the name today, betting that the stock may be at a short-term bottom. The August $40 put was sold 2,100 times, on the bid, earlier in the session; open interest on the strike is 3,250 contracts. This signals that a long put position was likely closed out.
Put volume is now running at 2.21x the daily average.
Silicon Laboratories Inc. designs and develops analog intensive, mixed-signal integrated circuits for a range of applications. Its mixed-signal ICs are electronic components that convert analog signals, such as sound and radio waves into digital signals that electronic products can process.
See 4 Strong Buys here for free.
