Put Volume Grows in CTC Media (CTCM)

Shares of CTC Media Inc. (NASDAQ: CTCM) are trading higher on the session by 2.04%, currently at $14.99. The stock recently broke down through the 50-day and 200-day moving average, though it looks like it is finding support around the $15 level.

Options traders are buying puts in the name though. Lot sizes have not been huge, but put volume is running at 3.89x the daily average today with 92% of all puts traded being purchases on the offer, which signals increasing bearish sentiment.

CTC Media, Inc. operates three Russian television networks.