Notable Put Options Activity in Frontline

Shares of Frontline

are higher on the session by 1.97%, currently trading at $4.67. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the February 2012 $6.00 put traded 1,000 times on open interest of 3,250 contracts. The Feb2012 $7.00 put also traded 600 times on 1,372 contracts. Put volume is outpacing call volume by 9 to 1. Frontline Ltd. is a Bermuda-based shipping company. The company is primarily engaged in the operation of a fleet of very large crude carriers and Suezmax tankers. It also operates oil/bulk/ore carriers, which are classified to carry dry cargo.