Put Volume Grows on Netlogic Microsystems (NETL)

Shares of Netlogic Microsystems Inc.

are higher on the session by 2.47%, currently trading at $30.75. The stock fell in May and has been gyrating between the 50-day and 200-day moving averages ever since. Options traders are favoring the put side today. The July $30 put was purchased 955 times on open interest of 6,167 contracts and the October $30 put was purchased 1,000 times on open interest of 1,764 contracts. Put volume is now running at 2.14x the daily average. NetLogic Microsystems, Inc., is a semiconductor company that designs, develops and sells processors and integrated circuits that are used by original equipment manufacturers in routers, switches, wireless infrastructure equipment, network security appliances, datacenter servers, network access equipment and network storage devices to accelerate the delivery of voice, video, data and multimedia content for advanced enterprise, datacenter, communications and mobile wireless networks.