Puts Purchased on SAP AG (SAP)
July 26, 2010 10:07 AM
Shares of SAP AG (NYSE: SAP) are lower on the session by 0.62%, currently trading at $48.22. The stock has been trading largely higher over the past two months, but is nearing resistance at $49.00 to $50.00.
Options traders are buying protection today. The January 2011 $50 put was purchased 2,000 times, on the offer, for $4.85 just moments ago; open interest on the strike is 6,188 contracts. Put volume is now running at 2.3x the daily average.
SAP AG is engaged in selling licenses for software solutions and related services. In addition, the company offers consulting, maintenance, and training services for its software solutions. As of December 31, 2009, the company had more than 95,000 customers in over 120 countries. As of December 31, 2009, SAP AG was the parent of 163 subsidiaries.
