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writer, OptionMonster
RF Micro Devices has seen a lot of volatility over the last few years, and one trader sees more of it in the next few days for the semiconductor company.
RF Micro [RFMD
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] closed yesterday off 0.63 percent to $4.72, and one trader expects the shares to fall further by Friday's expiration. OptionMonster's tracking systems show the purchase of 4,900 of the October 5 puts for $0.40.
This volume is twice the open interest, indicating newly opened positions. The 20-day average total options volume for RF Micro has been just 1,497.
Shares only have to drop to $4.60 to make these puts profitable. The price was below that on Oct. 2 and as high as $5.85 a month ago, so a $0.12 move doesn't seem out of the question.
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RF Micro Devices Competes With:
Broadcom [BRCM
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Skyworks Solutions [SWKS
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Options Trading School:
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Chris McKhann is an analyst and writer for OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes