[Opening Put Position in Rambus (RMBS)]
Dear Member:
Rambus (RMBS) has gapped down this morning and has broken down through a support level in the past couple of days. I am placing an order to buy the May 17.50 puts (BNQQW) at a limit of $3.35. These puts are a little more than $1 in the money and currently have a delta around -.46.
DISCLOSURE: I have a current short position in the stock.
Sincerely,
Bill Kraft
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