Puts Purchased on Verigy Ltd. (VRGY)

Shares of Verigy Ltd. VRGY are lower on the session by 1.59%, currently trading at $13.00. The stock has been moving largely sideways over the past few weeks after popping sharply. VRGY is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2011 $12.00 put was purchased 1,500 times, on the offer, on open interest of 4,311contracts. Overall put volume is now running at 2.54x the daily average with 83% of all puts traded being purchases on the offer. Verigy Ltd. designs, develops, manufactures and sells test systems and solutions for the semiconductor industry.