Micron Technology (MU)

[JLS]

10K SMH Aug $100 Puts for $2.80?

That strike traded today around $1.40.

Assuming those were Long Puts, that's a paper loss of about $1.4-Million today.

SMH traded below $100 three times in the last 6.5 months, but on this last dip, SMH reversed back upward at about $101 shortly after that trade was entered. They had a good profit for a day or two, but they got greedy and waited for more.

Oh well -- they still have time.