Protection Purchased on Mellanox Technologies (MLNX)

Shares of Mellanox Technologies, Ltd. MLNX are higher on the session by 3.04%, currently trading at $16.26. The stock has been moving largely sideways after a sharp move lower on high volume is mid-July. Options traders are buying puts on the name today, perhaps as a hedge to long shares. In December, the $17.50, $16.00, $15.00, and $14.00 puts were all purchased 532 times, on or near the offer; volume exceeded open interest on three out of four of the strikes (not the $16.00 strike). Put volume is now running at over 12.29x the daily average. Mellanox Technologies, Ltd. is a supplier of semiconductor-based, high-performance connectivity products that facilitate data transmission between servers, communications infrastructure equipment and storage systems. The company's products focus on computing, storage and communication applications used in enterprise data centers, high-performance computing and embedded systems. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.