Notable Put Options Activity in Genco Shipping & Trading

Shares of Genco Shipping & Trading GNK are higher on the session by 4.42%, currently trading at $6.85. The stock has been moving largely lower over the past two 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 January 2013 $5.00 put, which has traded 780 times on open interest of 5,600 contracts. Put volume is outpacing call volume by 7 to 1. Genco Shipping & Trading Limited is engaged in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.