Notable Put Options Activity in Suntech Power Holdings
Shares of Suntech Power Holdings (NYSE: STP) are higher on the session by 2.87%, currently trading at $3.23. The stock has been moving largely lower 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 2013 $4.00 put, which has traded 2,000 times on open interest of 698 contracts. The Jan2013 $3.50 put also traded 1,170 times on 1,865 contracts.
Put volume is outpacing call volume by 10 to 1.
Suntech Power Holdings Co., Ltd. is a solar energy company. Suntech is principally engaged in the design, development, manufacturing and marketing of photovoltaic products and also provide engineering, procurement and construction services to building solar power systems using its own solar modules for certain related party and third party customers.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.