Notable Put Options Activity in CIT Group

Shares of CIT Group CIT are higher on the session by 1.32%, currently trading at $38.85. 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 April 2012 $37.00 put, which has traded 1,000 times on open interest of 1,094 contracts. The Mar2012 $40.00 put also traded 1,000 times on 1,106 contracts. Put volume is outpacing call volume by 4 to 1. CIT Group Inc. is a bank holding company. The company, together with its owned subsidiaries, provides primarily commercial financing and leasing products and other services to small and middle market businesses across a range of industries.
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