Puts Active on Freescale Semiconductor (FSL)
Shares of Freescale Semiconductor (FSL) are trading lower on the session by 3.25%, at $10.11. The stock has been inching lower over the past two weeks following a test and fail at the 200-day moving average.
Despite the 19% decline, one trader looks to be betting that shares can run lower into the New Year.
A short while ago, the December $10 put was purchased 1,036 times, on the offer, for $1.15. Volume on the strike has since ramped up to 3,383 contracts; open interest is 1,410 contracts.
Overall put volume is running at 78.67x normal volume with 3,383 contracts traded. Over 80% of all puts traded have been purchases on the offer.
Freescale Semiconductor was started at Neutral by UBS this morning.
Freescale Semiconductor Holdings I, Ltd. is a provider of embedded processing solutions. An embedded processing solution is the combination of embedded processors, semiconductor devices and software.
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