Puts Purchased on Itron (ITRI)
June 16, 2010 3:13 PM
Shares of Itron Inc. (NASDAQ: ITRI) are higher on the session by 0.84%, currently trading at $69.78. The stock is rallying this week after a hard and fast sell off in May. The stock is now butting its head against the 50-day moving average.
Options traders are picking up puts on the name. The July $70 put was purchased on the offer 1,000 times today; open interest on the strike is only 7 contracts, suggesting new, bearish positioning.
Put volume is now running at 2.5x the daily average.
Itron, Inc. provides a portfolio of products and services to utilities for the energy and water markets worldwide. The company, along with its subsidiaries, is a provider of metering, data collection, and utility software solutions. It has two segments: Itron North America and Itron International.
