Science & Technology
Science and Technology
Science and Technology
Mon, January 26, 2009
Sun, January 25, 2009
Sat, January 24, 2009
Fri, January 23, 2009 Schaeffer's Options Update: Broadcom Draws Bullish Credit Spread Attention
CINCINNATI--([ BUSINESS WIRE ])--The patent fight between Broadcom (NASDAQ: BRCM) and Qualcomm (NASDAQ: QCOM) took another turn yesterday. After the close last night, the International Trade Commission (ITC) rescinded its limited exclusion order barring some Qualcomm chips from the U.S. The decision sends the case back to the ITC's administrative law judge. However, despite the seemingly negative twist of fate for BRCM, the shares have surged more than 6% in today's trading.
Whether because of this news, or the company's looming quarterly earnings report on Jan. 29, BRCM has been targeted by some heavy put activity so far today. In fact, puts have outpaced their daily average by more than 9 to 1, placing the security on our Intraday Volume Explosion List. Approximately 20,000 puts have changed hands on the security, but it was the sizable block trades on the March 17 and March 15 puts that caught my attention this afternoon.
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