Tuesday, November 9, 2010

TIVO Getting Smashed, Shares Rewind Their Price (TIVO)

*UPDATE TIVO shares now down 14%  to 9.97 on accelerating selling..

Shares of Tivo  are under increasing selling pressure as the 11 level was broke on high volume. Tivo shares are down 7% on the day off 72c to 10.57.

According to sources familiar with the company JPM made favorable comments towards DISH following a meeting between TIVO and DISH lawyers. The companies have been embattled in litigation for sometime.

Options traders focused primarily on the November 10 puts, with 6500 trading vs. open interest of 7,057 contracts.

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