Notable Put Options Activity in Microchip Technology

Shares of Microchip Technology

are lower on the session by 0.31%, currently trading at $35.87. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the January 2012 $35 put, which has traded 3,200 times on open interest of 1,550 contracts. Put volume is outpacing call volume by 6 to 1. Microchip Technology Incorporated develops and manufactures semiconductor products used by its customers for a range of embedded control applications.