Schaeffer's Option Blog: Will TiVo Inc. (TIVO) Fill Its Gap Higher? Put Traders Think So

CINCINNATI--(BUSINESS WIRE)--It would seem that options traders are betting that TiVo Inc. (NASDAQ: TIVO) is going to fill at least part of its recent gap higher. On June 3, TIVO surged following a court ruling that EchoStar (DISH) infringed on the company's patent. TIVO spiked more than 53% on the news, gapping from roughly $7 per share to nearly $11 per share on the day. However, the judge in the case issued a stay of injunction on the ruling, and this may have some investors concerned.

In this morning's option activity, two blocks of July 10 puts, totaling 6,000 contracts, traded at 9:59 a.m. Eastern time on the Chicago Board Options Exchange (CBOE) for the ask price of $0.95.

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