Puts Purchased on Cavium Networks (CAVM)
December 22, 2010 11:09 AM
Shares of Cavium Networks (NASDAQ: CAVM) are lower on the session by 1.93%, currently trading at $37.70. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the January 2011 $39.00 put was purchased 2,000 times, on the offer, on open interest of only 115 contracts. This signals new positioning on the name.
Overall put volume is now running at 2.96x the daily average with 96% of all puts traded being purchases on the offer.
Cavium Networks, Inc. is a provider of integrated semiconductor processors that enable intelligent processing for networking, communications, storage, wireless, security, video and connected home and office applications.
