Market News

December 10, 2013  Tue 4:14 AM CT

Traders appear to be looking for NXP Semiconductor to give up some of its recent gains.

optionMONSTER's Depth Charge system shows that more than 5,000 December 45 puts were purchased, with contracts initially going for the ask price of $1.40 and then a block of 2,966 for $1.55. The previous open interest was just 16 contracts, so this is clearly fresh buying.

The puts weren't tied to any stock trading as a hedge today. Because they are in the money, these puts were likely purchased as an outright bearish play. (See our Education section)

NXPI was down 1.54 percent to close at $43.55. The Dutch chip company hit a new intraday high of $44.87 just after the open, almost double its April low. 
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