Puts Purchased on National Financial Partners (NFP)
June 10, 2010 11:12 AM
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Shares of National Financial Partners Corp (NYSE: NFP) are lower on the session by 1.14%, currently trading $10.39. The stock has been selling off on heavy volume over the past six weeks and is now trading below both the 50-day and 200-day moving averages.
Options traders are picking up puts on the name today. The October $7.50 strike put was purchased 1,353 times on the offer. There was no open interest on the strike, indicating new, bearish positioning.
Put volume is running at 26x the daily average.
National Financial Partners Corp. is an independent financial services distribution company. The Company offers high net worth individuals and companies throughout the United States and in Canada, solutions across corporate and executive benefits, life insurance and wealth transfer, and investment advisory products and services.
