Protection Purchased on Herbalife Ltd. (HLF)

Shares of Herbalife Ltd.

are higher on the session by 0.96%, currently trading at $55.46. The stock has been moving largely higher over the past six months and is nearing its 52-week high, which was set yesterday. Options traders are buying puts on the name today. The September $50 put was purchased 3,800 times, on the offer, a short while ago; open interest on the strike is 256 contracts. Put volume is now running at 21.08x the daily average. Herbalife Ltd. is a global network marketing company that sells weight management, nutritional supplement, energy, sports and fitness products, and personal care products.