Some investors remain cautious in Finisar, which is trying to
rally before the release of quarterly results this afternoon.
optionMONSTER's Depth Charge monitoring program detected the
purchase of about 4,000 March 15 puts for $0.50 to $0.65. Volume
was triple open interest at the strike.
Those buyers now have the right to sell FNSR for $15 in the next
week no matter how low it might fall,
against a near-term drop. The puts appear to have been purchased by
investors who own shares in the telecom-gear maker and are looking
for protection before today's earnings report. (See our
section for more on how options can be used to manage trades.)
FNSR is up 5.13 percent to $15.78 in afternoon trading. Shares have
been fluctuating in a range for most of the last year.
Almost 7,600 contracts have traded so far today, compared with 628
in a typical session. Puts account for almost two-thirds of the
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