Puts Purchased on Superior Energy Services (SPN)

Shares of Superior Energy Services

are lower on the session by 0.06%, currently trading at $35.20. The stock has been moving largely lower over the past six weeks and is currently trading between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the September 2011 $30.00 put was purchased 800 times, on the offer, on open interest of 1,845 contracts. Overall put volume is now running at 2.55x the daily average with 81% of all puts traded being purchases on the offer. Superior Energy Services, Inc. is a diversified provider of specialized oilfield services and equipment. The company focuses on serving the drilling-related needs of oil and gas companies primarily through its drilling products and services segment, and the production-related needs of oil and gas companies through its subsea and well improvement and marine segments.