Puts Purchased on Cypress Semiconductor

Shares of Cypress Semiconductor

are higher on the session by 1.57%, currently trading at $21.32. The stock has been moving largely higher over the past three months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $21 put traded 1,500 times on open interest of 2,706 contracts. The September $18.00 put also traded 2,000 times on open interest of 1,551 contracts. Overall put volume is now running at 2.03x the daily average with 92% of all puts traded being purchases on the offer. Cypress Semiconductor Corporation is a supplier of programmable solutions in systems. In addition to its programmable system-on-chip platform based programmable solutions.