by Houghton and Atkeson 06/20/08
Ingram Micro (IM) climbed from about $15 in March to about $18.50 today.
Options investors are making a substantial bet today that IM will begin to drop back well below the $17.50 strike price in July as noted by the 2,000 times they bought the IM July 17.50 Puts (IMSW).
The options activity today is 13 times the normal volume and the largest total contract volume in over a year. The negative bet is even more interesting, as the overall technology market has yet to catch up with the S&P 500 (SPX) meltdown.
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