Notable Put Options Activity in Mechel OAO

Shares of Mechel OAO

are lower on the session by 12.35%, currently trading at $10.29. 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 December 2011 $11.00 put, which has traded 3,000 times on open interest of 748 contracts. Put volume is outpacing call volume by 2 to 1. Mechel OAO is a Russia-based integrated mining and steel company. The company focuses on the production of mining products, such as coal, iron ore, nickel, and steel products.