Put Volume Grows on EZchip Semiconductor (EZCH)

Shares of EZchip Semiconductor Limited EZCH are higher on the session by 6.43%, currently trading at $17.04. The stock has been consolidating sideways after a hard drop in May. Options traders do not believe in the rally today and are buying puts. The October $15 strike was purchased 1,000 times on open interest of 6,094 contracts. In addition to that, the January 2011 $20, 17.50, and 15 strike puts have each been bought over 730 times. Volume exceeded open interest on all of those strikes. Put volume is running at 5.01x the daily average. EZchip Semiconductor Ltd. is the holding company of EZchip Technologies Ltd. EZchip Technologies is a fabless semiconductor company that is engaged in the development and marketing of Ethernet network processors for networking equipment.