Puts Purchased on Kinetic Concepts, Inc. (KCI)
October 19, 2010 11:54 AM
Shares of Kinetic Concepts, Inc. (NYSE: KCI) are lower on the session by 8.16%, currently trading at $34.99. The stock has been moving largely lower over the past six months and is clearly in a technical downtrend. KCI recently tested and failed at the 200-day moving average.
Options traders are buying protection on the name today. A short while ago the January 2012 $30.00 put was purchased 5,100 times, on the offer, on open interest of just 40 contracts. This signals new positioning on the name.
Overall put volume is now running at 71.41x the daily average, 93% on the offer.
Kinetic Concepts, Inc. is a global medical technology company devoted to the discovery, develop, manufacture and market technology therapies and products. The company's business units serve the advanced wound care, regenerative medicine and therapeutic support system markets.
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