Broadcom Put Options Elevated Activity (BRCM)

Posted in General 
August 11th, 2009

Nothing looked that unusual today in shares of Broadcom Corp. (NASDAQ: BRCM).  At least not until we did an end of day screening.  The September PUT options were very active with over 20,000 contracts trading for that put options that expire on Sept. 18.  That is over 3-times normal volume and over 19,000 came from these four contracts.  These four had only about 9,000 contracts listed as the open interest before today:

Strike Contracts
$25.00  5,164
$26.00  892
$27.00  9,030
$28.00  4,209

For August PUTS, we saw in the $26.00 Strike prices some 3,127 contracts trade versus an open interest of 8,440 contracts.

Interestingly, the stock was low interest and light trading today.  Shares closed down 2% at $26.63 and the volume was 8.9 million vs. 9.8 million shares on average.

JON C. OGG

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