TIVO – TiVo, Inc. – Shares of the subscription-based provider of digital-video recording services fell as much as 7.8% today to reach a new 52-week low of $7.10. TiVo’s shares recovered slightly, trading lower by 5.85% to $7.25, as of 12:51 pm (ET). Long-term options activity on the stock suggests some traders expect shares to rebound by expiration in January 2012. It looks like one trader initiated a bullish risk reversal by selling 4,000 puts at the January 2012 $5.0 strike for a premium of $1.51 each, spread against the purchase of the same number of calls at the higher January 2012 $12.5 strike for a premium of $1.83 apiece. The net cost of the spread amounts to $0.32 per contract. The investor responsible for the transaction profits only if TiVo’s share price jumps 77% from the current price of $7.25 to surpass the average breakeven point to the upside at $12.82 by expiration day in January 2012.