Rambus (RMBS) NewsBite - Trading With Unusual Volume

Posted: Wednesday, November 26, 2008 2:28 PM EDT

Rambus (RMBS) appears to be trading at a higher than usual volume today and is now at $8.63, up $1.68 (24.17%) on volume of 3,748,309 shares traded. For the last 30 days RMBS has traded 1,925,657 shares on average each day. So far today's volume is 94.65% above that average volume. Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $26.41. Rambus stock has been showing support around $5.72 and resistance in the $7.56 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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