Puts Purchased on Bucyrus International (BUCY)

Shares of Bucyrus International (NASDAQ: BUCY) are higher on the session by 0.04%, currently trading at $90.34. The stock has been moving largely sideways over the past two months and is currently trading below the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. A short while ago the January 2011 $90.00 put was purchased 2,000 times, on the offer, on open interest of 1,188 contracts.

Overall put volume is now running at 4.48x the daily average with 89% of all puts traded being purchases on the offer.

Bucyrus International, Inc. is a designer and manufacturer of safe and mining equipment for the extraction of coal, copper, oil sands, iron ore and other minerals in mining centers throughout the world.