Dan Nathan Sees Unusal Options Activity In GT Advanced Technologies Inc

CNBC Options Action's, Dan Nathan spoke on the show about unusually high options trading volume in GT Advanced Technologies Inc GTAT and possible future price movement for the stock. Two times average options trading volume was traded on Tuesday in this name and puts outnumbered calls, almost two to one. Higher activity in put options is not surprising because GT Advanced Technologies Inc traded around 30 percent lower since it became clear that Apple Inc. AAPL is not going to use sapphire screens on new iPhones. Nathan said that when stock traded just below $12, a trader sold 12,000 October 17 put options and bought 17,000 October 12 puts for $1.30. He thinks that this trader is just rolling protection for a long position. Mr. Nathan added that he believes that GT Advanced Technologies Inc has a brighter future than its last week's performance showed.