Bulls Losing Their Way With Trimble Navigation (TRMB)

Shares of Trimble Navigation Limited TRMB are higher on the session by 0.19%, currently trading at $32.08. The stock has been moving largely higher over the past few weeks, breaking above resistance at $30.00. Next resistance is at $32.00. Options traders are worried that shares will move back lower. A short while ago the October $30.00 put was purchased 1,350 times, on the offer, for $0.50. Open interest on the strike is only 37 contracts, which signals new positioning on the name. Put volume is running at 27.62x the daily average. 100% of all calls traded have been purchases on the offer. Trimble Navigation Limited provides advanced positioning product solutions, to commercial and government users. The principle applications served include surveying, agriculture, construction, asset management, mapping and mobile resource management. Products include agricultural and construction equipment, guidance systems, surveying instruments, systems that track fleets of vehicles and data collection systems that enable the management of large amounts of geo-referenced information. 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.