Puts Purchased on Praxair Inc. (PX)
August 12, 2010 12:27 PM
Shares of Praxair Inc. (NYSE: PX) are higher on the session by 0.56%, currently trading at $87.35. The stock has been moving largely higher over the past two months and is now nearing historical resistance at $88.00.
Options traders are buying protection on the name today. The September $80 put was purchased 1,100 times, on the offer, a short while ago; open interest on the name is 615 contracts. This signals new positioning on the strike.
Put volume is now running at 3.25x the daily average.
Praxair Inc. is an industrial gas supplier in North and South America. Praxair's primary products for its industrial gases business are atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene).
