Dan Nathan Sees Unusal Options Activity In GT Advanced Technologies Inc

, Dan Nathan spoke on the show about unusually high options trading volume in

and possible future price movement for the stock. Two times average options trading volume was traded on Tuesday in this name and puts outnumbered calls, almost two to one. Higher activity in put options is not surprising because

traded around 30 percent lower since it became clear that

is not going to use sapphire screens on new iPhones. Nathan said that when stock traded just below $12, a trader sold 12,000 October 17 put options and bought 17,000 October 12 puts for $1.30. He thinks that this trader is just rolling protection for a long position. Mr. Nathan added that he believes that

has a brighter future than its last week's performance showed.