Notable Put Options Activity in CTC Media

Shares of CTC Media (NASDAQ: CTCM) are higher on the session by 4.41%, currently trading at $9.34. 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. The strike seeing the heaviest action is the May 2012 $7.50 put, which has traded 1,100 times on open interest of 500 contracts.

Put volume is outpacing call volume by 333 to 1.

CTC Media, Inc. operates three Russian television networks, which include CTC, its flagship network, Domashny and DTV. The company also operates Channel 31, a television network in Kazakhstan, and a television channel in Moldova, each offering entertainment programming.