Puts Purchased on Norfolk Southern Corporation

Shares of Norfolk Southern Corporation

are lower on the session by 1.65%, currently trading at $71.07. The stock has been moving largely higher over the past six months and 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 December 2011 $67.50 put was purchased 4,000 times, on the offer, on open interest of 87 contracts. Overall put volume is now running at 3.79x the daily average with 95% of all puts traded being purchases on the offer. Norfolk Southern Corporation is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.