Notable Put Options Activity in Magma Design Automation

Shares of Magma Design Automation

are higher on the session by 24.48%, currently trading at $7.12. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the July 2012 $5.00 put, which has traded 4,800 times on open interest of 0 contracts. Magma Design Automation is to be acquired by Synopys

for $503 million. Put volume is outpacing call volume by 5 to 1. Magma Design Automation, Inc. provides electronic design automation software products and related services. Its software enables chip designers to reduce the time it takes to design and produce integrated circuits used in the communications, computing, consumer electronics, networking and semiconductor industries.