Estee Lauder Companies Inc (EL) Options Rosy on Stock’s Performance Near Term

Avago Technologies Ltd (NASDAQ:AVGO) – Put options changing hands on semiconductor devices maker, Avago Technologies, in the early going this morning look for the price of the underlying to pull back to the lowest level in several weeks. Shares in AVGO are up 0.15% on the day at $34.37 as of 12:40 p.m. ET. Overall options volume on Avago jumped to more than 8 times the stock’s average daily volume and the put/call ratio on the stock surged to more than 160 after one or more traders snapped up May expiry puts this morning. The May $32.5 strike put traded more than 4,200 times during the first half of the session against open interest of just 43 contracts, with the bulk of the volume purchased at an average premium of $0.70 each. The bearish contracts make money if shares in Avago Technologies decline 7.5% from the current price of $34.37 to breach the average breakeven point on the downside at $31.80 by May expiration. The $32.5 strike put options expire the week prior to Avago’s second-quarter earnings report seven weeks from now.

Caitlin Duffy
Equity Options Analyst

The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither Interactive Brokers LLC nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither IB nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not necessarily indicative of future results.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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