Protection Purchased on Cognizant Technology (CTSH)
Shares of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) are lower on the session by 0.49%, currently trading at $64.37. The stock has been moving largely higher over the past six months, moreover the past year, and is trading just off of a fresh 52-week high.
Options traders are buying protection on the name today, though. Just moments ago the November $62.50 put was purchased 3,050 times, on the offer, on open interest of only 211 contracts. This signals new positioning on the name.
Put volume is now running at 3.35x the daily average, 96% on the offer.
Cognizant Technology Solutions Corporation is a provider of custom information technology consulting and technology services, and outsourcing services. The company's customers are primarily Global 2000 companies located in North America, Europe and Asia.
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