Strange Movements Seen in WMS Industries (WMS)
September 16, 2010 10:47 AM
Shares of WMS Industries Inc. (NYSE: WMS) are lower on the session by 0.29%, currently trading at $39.21. The stock was trading much higher earlier in the session, touching $40.04, after it was initiated with a Buy rating by Jefferies.
The stock has been moving largely lower over the past six months, trading lower from a high near $51.70. WMS recently bounced above the 50-day moving average, but has seen selling pressure as well.
Options traders are buying protection on the name today. Just a short while ago the January 2011 $35.00 put was purchased 1,000 times, on the offer, for $2.03; open interest on the strike is 5,208 contracts.
Put volume is running at 3.09x the daily average.
WMS Industries Inc. serves the legalized gaming industry by designing, manufacturing and distributing games, video and mechanical reel-spinning gaming machines and video lottery terminals to authorized customers in legal gaming venues worldwide. The company's products include video gaming machines, mechanical reel gaming machines and VLTs.
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