Puts Purchased on Varian Semiconductor
Shares of Varian Semiconductor (NASDAQ: VSEA) are lower on the session by 8.50%, currently trading at $8.40. The stock has been moving largely lower over the past three 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 November 2011 $50.00 put traded 1,300 times on open interest of 2,311 contracts.
Overall put volume is now running at 2.75x the daily average with 82% of all puts traded being purchases on the offer.
Varian Semiconductor Equipment Associates, Inc. is a supplier of ion implantation systems, which the company refers to as tools, used in the fabrication of integrated circuits, which it refers to as microchips or chips.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.