Protection Bought on Alcon, Inc. (ACL)
February 23, 2011 11:52 AM
Shares of Alcon, Inc. (NYSE: ACL) are higher on the session by 0.12%, currently trading at $165.47. The stock has been moving largely higher over the past four 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 March $155.00 put was purchased 1,300 times, on the offer, for $0.30 on open interest of only 164 contracts. This signals new positioning on the name.
Overall put volume is now running at 3.65x the daily average with 98% of all puts traded being purchases on the offer.
Alcon, Inc. is a research and development global medical specialty company focused on eye care. The company develops, manufactures and markets pharmaceuticals, surgical equipment and devices and consumer eye care products to treat primarily diseases and disorders of the eye.
