Puts Purchased on Alcon, Inc. (ACL)
December 21, 2010 11:22 AM
Shares of Alcon, Inc. (NYSE: ACL) are higher on the session by 0.12%, currently trading at $161.90. The stock has been moving largely lower over the past three months and is currently consolidating between the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the February 2011 $120.00 put was purchased 5,000 times, on the offer, on open interest of only 53 contracts. This signals new positioning on the name.
Overall put volume is now running at 2.57x the daily average with 92% of all puts traded being purchases on the offer.
Alcon, Inc. is a research and development global medical specialty company focused on eye care. The company develops, manufactures and markets pharmaceuticals, surgical equipment and devices and consumer eye care products to treat primarily diseases and disorders of the eye.
