Puts Purchased on NetSuite Inc. (N)

Shares of NetSuite Inc.

are lower on the session by 5.88%, currently trading at $26.40. The stock has been moving largely higher over the past six months and it 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 $25.00 put was purchased 1,900 times, on the offer, on open interest of only 466 contracts. This signals new positioning on the name. Overall put volume is now running at 16.01x the daily average with 79% of all puts traded being purchases on the offer. NetSuite Inc. provides an on-demand, integrated business management application suite, which provides Accounting/Enterprise Resource Planning, Customer Relationship Management and Ecommerce functionality to medium-sized businesses and divisions of large companies.