Puts Purchased on PPL Corporation (PPL)

Shares of PPL Corporation

are lower on the session by 0.54%, currently trading at $25.57. The stock had been moving largely higher over the past few months, but recently came under selling pressure and failed at the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the December $25.00 put was purchased 1,000 times, on the offer, on open interest of only 234 contracts. This signals new positioning on the name. Overall put volume is now running at 6.36x the daily average with 98% of all puts traded being purchases on the offer. PPL Corporation is an energy and utility holding company. Through its subsidiaries, PPL generates electricity from power plants in the northeastern and western United States, markets wholesale or retail energy primarily in the northeastern and western portions of the United States, and delivers electricity to approximately four million customers in Pennsylvania and the United Kingdom.