Put Volume Grows on Xyratex LTD (XRTX)

Shares of Xyratex LTD

are lower on the session by 5.07%, currently trading $13.68. The stock has been drifting lower over the past five weeks and is now testing the 200-day moving average. Options traders are picking up puts along the way. Though action has been primarily in small lots, put volume is running at 3.20x the daily average with 91% of all puts traded being purchases on the offer. Traders are focusing in on the $15 and $10 strikes in multiple months. Xyratex Ltd. is a provider of modular enterprise-class data storage solutions and storage process technology. It designs, develops and manufactures technology that provides its customers with data storage products to support storage and data communication networks.