GXDX – Genoptix, Inc. – Shares of the specialized laboratory service provider engaged in delivering personalized and comprehensive diagnostic services to community-based hematologists and oncologists plunged 25.79%, crashing straight through its now defunct 52-week low of $21.75, to reach a new low of $16.98 with just over 10 minutes remaining before the closing bell. The firm’s shares plummeted after the California-based company said it expects second-quarter net income of $0.30 per share, which disappointed analysts expecting an average of $0.40 a share. One bearish options investor took advantage of Genoptix’ hemorrhaging shares by initiating a credit call spread in the August contract. The trader appears to have sold 2,000 calls at the August $17.5 strike for a premium of $1.80 each, spread against the purchase of the same number of calls at the higher August $22.5 strike for a premium of $0.50 apiece. The investor pockets a net credit of $1.30 per contract, and keeps the full amount as long as shares of the underlying stock do not rally above $17.50 ahead of expiration day. The parameters of the transaction dictate maximum potential profits of $1.30 per contract, however, potential losses faced by the responsible party sum to a maximum of $3.70 per contract if GXDX shares rebound sharply and exceed $22.50 by August expiration. Losses start to accumulate for the investor if shares rally 10.6% from the current price of $16.98 to breach the effective breakeven price of $18.80 by expiration day in August.