Shares of Rambus Inc (RMBS) appeared on the put side of yesterday morning's option skew scan and it looks like those are turning out to be some potentially profitable trades. The stock is getting hit hard here as is drops over 40%. A look to the intraday chart shows the selling hit just after noon.

Chart Courtesy of Thomson Financial

A check of the headlines shows this article hit about the same time. A look to the weekly chart shows that today's drop comes as the stock was bouncing from its recent lows.

Chart Courtesy of Thomson Financial

The shares hit a low near 5 at the end of November and then staged a strong bounce. At yesterday's close, they were up over 270% from that bottom. However, today's drop is a definite setback to the near-term uptrend.

As it stands now, the intermediate-term chart is very choppy with little directional trend. Meanwhile, a look to the sentiment profile shows few bright spots. The put/call ratio has shown a slight upturn but still sits at relatively low levels. Only two analysts follow the stock so there isn't much of a read there. Short interest has been generally declining but with today's news, some may be looking to jump back on the stock. If so, that initiation process would add additional selling pressure to the mix.