Protection Purchased on Alcatel Lucent (ALU)

Shares of Alcatel Lucent (NYSE: ALU) are lower on the session by 2.75%, currently trading at $2.72. The stock has been moving generally higher over the past three months, though has had trouble around the 50-day moving average.

Options traders are buying protection on the name today. The December $3.00 put was purchased 4,000 times, on the offer, a short while ago; open interest on the strike is only 303 contracts. This signals new positioning on the name.

Put volume is currently running at 22.53x the daily average.

Alcatel Lucent provide products, solutions, and transformation services offerings, which enables service providers, enterprises, governments and strategic industries (such as transportation or energy) globally to deliver voice, data and video communication services to the consumers. It offers fixed, mobile and converged broadband networking, Internet protocol technologies, applications and services.

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