Puts Purchased on China Valves Technology (CVVT)
Shares of China Valves Technology (NASDAQ: CVVT) are lower on the session by 4.08%, currently trading at $9.89. The stock has been moving largely higher over the past three 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 $10.00 put was purchased 830 times, on the offer, on open interest of 2,224 contracts.
Overall put volume is now running at 2.33x the daily average with 86% of all puts traded being purchases on the offer.
China Valves Technology, Inc., through its subsidiaries, engages in developing, manufacturing, and selling low, medium, and high-pressure metal valves for customers in the electricity, petroleum, chemical, water, gas, nuclear power station, and metal industries in China.
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