Downside Purchased on NetLogic Microsystems (NETL)

Shares of NetLogic Microsystems Inc. NETL are lower on the session by 1.49%, currently trading at $26.79. The stock has been trading largely lower over the past two months and is now in danger of breaking through the $26.60 support level. Options traders are betting that the stock does just that. The August $29.00 put was purchased 2,200 times, on the offer, on open interest of 2,094 contracts and the August $28.00 put was purchased 1,000 times, on the offer, on open interest of 610 contracts. Put volume is now running at 3x 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. You Can't Afford Miss Out On These Money Making Trading Ideas