Check Point Bearish Bets Jump: Israel Overnight
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Options traders are boosting bets by the most since 2004 that Check Point Software Technologies Ltd. will extend its New York drop after the world’s second-largest maker of network security gear reported slower revenue growth.
The ratio between put options to sell Check Point’s shares relative to calls to buy rose to an eight-year high last week of 1.12-to-1, up from 0.4-to-1 last year, according to data compiled by Bloomberg. The Tel Aviv-based company sank 5.1 percent to $60.76 in New York yesterday, the second-biggest decliner on the Bloomberg Israel-US Equity Index of the largest Israeli companies listed in the U.S.