Puts Purchased on OM Group
July 05, 2011 11:27 AM
Shares of OM Group, Inc. (NYSE: OMG) are lower on the session by 2.96%, currently trading at $39.64. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average.
Options traders are buying puts on the name today. A short while ago the July 2011 $40.00 put traded 900 times on open interest of 191 contracts.
Overall put volume is now running at 12.52x the daily average with 74% of all puts traded being purchases on the offer.
OM Group, Inc. is a global solutions provider of specialty chemicals, advanced materials, electrochemical energy storage, and technologies. The company is a refiner of cobalt and producer of cobalt-based specialty products. It is organized into three operating segments: Advanced Materials, Specialty Chemicals and Battery Technologies.
