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June 4, 2013  Tue 3:16 AM CT

ATVI: SEE CHART GET CHAIN FIND STRATEGIES
Activision Blizzard bounced yesterday, and one trader is looking for the video-game maker to hold current levels.  

More than 10,500 July 14 traded in the session, with 4,205 going for $0.44 and another 6,305 sold for $0.43 at the same second, according to optionMONSTER systems. Open interest in the strike was just 489 contracts before the trades appeared, clearly showing that these are new positions.

The put selling is a bet that ATVI will hold the $14 level through mid-July. Shares have not closed below that price since mid-February after running higher on strong quarterly numbers that month. (See our Education section)

ATVI gained 1.39 percent to close at $14.63. Shares were up as high as $16.11 last week.
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So far, my articles have taken you through a logical progression of option theory and fundamental concepts of options. As of yet, I have not mentioned a single strategy and for a good reason! The actual application of a strategy should come AFTER you learn about the option product itself.

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