Puts Purchased on Tessera Technologies (TSRA)

Shares of Tessera Technologies Inc. TSRA are lower on the session by 0.60%, currently trading at $16.69. The stock has been trading largely lower over the past six months, off from recent highs near $22.50. Options traders are buying puts on the name today. The September $17.50 put traded 1,100 times on open interest of 211 contracts, the January 2011 $17.50 put traded 1,200 times on open interest of 406 contracts, and the December $17.50, $16.00, and $14.00 puts have all traded over 1,100 times. Put volume is now running at 24x the daily average with 67% of all calls traded being purchases on the offer. Tessera Technologies, Inc. develops, licenses and manufactures technologies in two areas: Micro-electronics, and Imaging & Optics. The company's Micro-electronics include semiconductor packaging technologies consisting of interconnect and substrates, and thermal management technology. Its Imaging & Optics, including wafer-level packaging, wafer-level optics, image enhancement technologies and micro-optics.