Calls Sold on Rubicon Technology (RBCN)

Shares of Rubicon Technology Inc. RBCN are lower on the session by 1.71%, currently trading at $32.11. The stock has been rallying strongly for the past six months and is near its 52-week high. Options traders are taking advantage of the increased volatility to sell premium on the name. The July $35 call was sold 1,500 times, near the bid; open interest on the strike is only 863 contracts, which signals new, bearish positioning. Call volume is now running at 4.75x the daily average. Rubicon Technology, Inc. is an electronic materials provider, which develops, manufactures and sells monocrystalline sapphire and other crystalline products for light-emitting diodes, radio frequency integrated circuits, blue laser diodes, optoelectronics and other optical applications.