Downside Purchased on SAVVIS, Inc. (SVVS)
October 06, 2010 10:57 AM
Shares of SAVVIS, Inc. (NASDAQ: SVVS) are lower on the session by 8.55%, currently trading at $19.78. The stock has been moving largely higher over the past four months, off of a recent low near $14.60. SVVS is currently trading far above the 50-day and 200-day moving average.
Options traders are buying puts on the name today. A short while ago the October $20.00 put was purchased 1,800 times, on the offer, on open interest of just 601 contracts.
Put volume is now running at 22.10x the daily average, 76% on the offer.
SAVVIS, Inc. provides information technology, services including cloud services, managed hosting, managed security, colocation, professional services, and network services, through its global infrastructure to businesses and government agencies around the world.
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