Puts Sold on Sanmina-SCI (SANM)

Shares of Sanmina-SCI Corp. SANM are lower on the session by 16.65%, currently trading at $13.22. The stock is selling off today on a number of one-time charges to their earnings. Options traders are selling puts on the name today. The August $17.50 put was sold 2,000 times, near the bid, for $3.50 earlier in the session; open interest on the strike is 2,362 contracts. This appears to be a closing transaction. Put volume is now running at 4.12x the daily average. Sanmina-SCI Corporation is an independent global provider of customized, integrated electronics manufacturing services. The company provides these services primarily to original equipment manufacturers, in the communications, enterprise computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, renewable energy and automotive industries.