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VMware, Inc. Message Board

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  • tienxia0 tienxia0 Oct 9, 2012 12:19 PM Flag

    Anybody know why is VMW down today?

    This is just a gun for stop-loss orders. Someone SOLD (yes, SOLD) a lot of $90 Put contracts, which is a bullish sign.

    There was a block of 1,426 Oct $90 Puts sold at 7:10 a.m. at $1.65 when the bid/ask was $1.65-$1.75 -- which means it was a sell. Before that there was a flurry of smaller SELLS of the $90 Strike Put contracts.

    Normally a trader sells puts when:

    a) They are taking profits on an EXISTING Put position, meaning they got the downside they wanted and they don't think it's going lower, or,

    b) They are initiating a position being short the puts because they don't mind having the STOCK "put" to them when they're bullish and think the stock will be higher and they'll be able to buy back their puts at a lower price and profit on the puts.

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