Puts Purchased on Albemarle Corporation (ALB)

Shares of Albemarle Corporation

are lower on the session by 1.39%, currently trading at $53.18. The stock has been moving largely higher over the past SIX months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2011 $50.00 put was purchased 1,000 times, on the offer, on no prior open interest. This signals new positioning on the name. Overall put volume is now running at 12.71x the daily average with 89% of all puts traded being purchases on the offer. Albemarle Corporation is a global developer, manufacturer and marketer of engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services.