Puts Purchased on Rovi Corp (ROVI)

Shares of Rovi Corp

are lower on the session by 4.32%, currently trading at $63.61. 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 $60.00 put was purchased 1,000 times, on the offer, on open interest of only 377 contracts. This signals new positioning on the name. Overall put volume is now running at 2.66x the daily average with 79% of all puts traded being purchases on the offer. Rovi Corp, formerly Macrovision Solutions Corporation, provides a set of solutions that are embedded in its customers' products and services and used by end consumers.