Notable Put Options Activity in Gulf Resources

Shares of Gulf Resources

are lower on the session by 1.78%, currently trading at $71.32. The stock has been moving largely higher over the past three weeks and is currently testing the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the January 2012 $5 put, which has traded 1,000 times on open interest of 3,341 contracts. Put volume is outpacing call volume by 100 to 1. Gulf Resources, Inc. manufactures and trades bromine and crude salt, and manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals.