Puts Purchased on TOTAL S.A. (TOT)

Shares of TOTAL S.A. TOT are higher on the session by 1.23%, currently trading at $54.94. 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 August 2011 $50.00 put was purchased 3,000 times, on the offer, for $2.75 on open interest of 3,166 contracts. Overall put volume is now running at 2.66x the daily average with 93% of all puts traded being purchases on the offer. TOTAL S.A., together with its subsidiaries and affiliates worldwide, is an integrated international oil and gas company. With operations in more than 130 countries, TOTAL engages in all aspects of the petroleum industry, including Upstream operations and Downstream operations