Satyam Topped Out?

Shares of Satyam Computer Services

are off 2.61% to $5.16 today; it is currently trading below both the 50-day and 200-day moving average. One large trader is coming in to sell volatility in the name via a covered call today; the October $5 call was sold on the bid earlier in the day for $0.80. Right around that time roughly 300,000 common shares traded. This could have been a delta neutral trade in the name, but it looks like it is more likely a covered call. Satyam Computer Services has traded nearly 1 million shares on the session. Satyam Computer Services is an India based software company that, in late 2008, revealed that it had been defrauded by its CEO.