Protection Purchased on ING Groep (ING)
June 07, 2010 1:24 PM
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Shares of ING Groep (NYSE: ING) are lower on the session by 1.08%, currently trading $7.34. The stock has been drifting lower for the better part of five months and is now trading below the key support level of $7.50.
Puts are being purchased on the name today with the June $7.50 strike purchased 3,000 times near the offer. Open interest on the strike is only 1,611 contracts.
Put volume is now running at 6.55x the daily average.
ING Groep N.V. is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers. It operates in six business segments: Retail Banking, ING Direct, Commercial banking, Insurance Europe, Insurance Americas and Insurance Asia/Pacific.
