Puts Purchased on Shuffle Master, Inc. (SHFL)
October 13, 2010 11:09 AM
Shares of Shuffle Master, Inc. (NASDAQ: SHFL) are higher on the session by 3.88%, currently trading at $9.10. The stock has been moving largely sideways over the past six months and is now nearing resistance at $9.45.
Options traders are buying protection on the name today. A short while ago the February 2011 $9.00 put was purchased 1,000 times, on the offer, on open interest of just 10 contracts. This signals new positioning on the name.
Overall put volume is now running at 138.88x the daily average, 93% on the offer.
Shuffle Master, Inc. is engaged in developing, manufacturing and marketing technology and entertainment-based products for the gaming industry for placement on the casino floor. It specializes in providing casino and other gaming customers with products and services.
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