Puts Purchased on CBS Corp. (CBS)
October 11, 2010 3:47 PM
Shares of CBS Corporation (NYSE: CBS) are higher on the session by 0.93%, currently trading at $17.39. The stock has been moving largely higher over the past six months, exploding off of the 200-day moving average as of late.
Options traders are protecting those gains today by buying puts. A short while ago the March 2011 $16.00 put was purchased 16,700 times, on the offer, on open interest of only 148 contracts.
Overall put volume is now running at 15.45x the daily average, 85% on the offer.
CBS Corporation is a mass media company with operations in Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor segments. The Entertainment segment consists of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Films and CBS Interactive.
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