Puts Purchased on Blue Coat Systems (BCSI)
January 19, 2011 12:36 PM
Shares of Blue Coat Systems (NASDAQ: BCSI) are lower on the session by 2.23%, currently trading at $30.31. The stock has been moving largely higher over the past five 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 February 2011 $30.00 put was purchased 1,000 times, on the offer, on open interest of only 119 contracts. This signals new positioning on the name.
The Feb 2011 $29.00 put also traded 1,100 times on open interest of 339 contracts.
Overall put volume is now running at 10.21x the daily average with 97% of all puts traded being purchases on the offer.
Blue Coat Systems, Inc. designs, develops and sells products and services that secure and optimize the delivery of business applications and other information to distributed users over a wide area network (WAN), or the public Internet.
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