Puts Purchased on Banco Bradesco

Shares of Banco Bradesco

are higher on the session by 3.25%, currently trading at $19.37. The stock has been moving largely sideways over the past six months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $19.00 put traded 3,800 times on open interest of 2,082 contracts. Overall put volume is now running at 3.07x the daily average with 100% of all puts traded being purchases on the offer. Banco Bradesco S.A. is a private sector commercial bank operating in Brazil. It offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid sized and small companies, and major local and international corporations and institutions.