Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

Are More Losses Ahead for BlackBerry Ltd (BBRY)?

BBRY option traders target front-month puts

by 12/3/2013 2:50 PM
Stocks quoted in this article:

Option Brief: BlackBerry Ltd (NASDAQ:BBRY) is down 1.5% today to trade at $6.31, despite attempts to win its corporate customers over with the latest update to the BlackBerry Enterprise Server. Elsewhere, option traders are focusing on BBRY's front-month options, particularly the December 6 put.

So far, about 7,400 contracts have changed hands at this strike -- 91% of which did so at the ask price, pointing to buyer-driven volume. What's more, implied volatility has increased 7.8 percentage points, suggesting long put positions have been opened here. Data from the International Securities Exchange (ISE) also confirms the presence of some buy-to-open activity at this strike.

By purchasing these options, today's bearish bettors expect BBRY to slide beneath $6 by the close on Dec. 20, when the puts expire. Over the past year, the equity has breached this level just once on an intraday basis, and has not closed south of the mark since September 2003. However, there is still hope for the put players, as BlackBerry Ltd (NASDAQ:BBRY) has been on a downward spiral over the past three months, falling more than 38%.


Featured Brokers
Unusual Option Volume
Option Flow
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email:

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by | Data delayed 15-20 minutes unless otherwise indicated.