Puts Purchased on James River Coal Company (JRCC)

Shares of James River Coal Company

are lower on the session by 2.51%, currently trading at $19.81. The stock has been moving largely lower 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 March 2011 $20.00 put was purchased 2,000 times, on the offer, on open interest of only 564 contracts. This signals new positioning on the name. Overall put volume is now running at 10.34x the daily average with 73% of all puts traded being purchases on the offer. James River Coal Company mines, processes and sells bituminous, steam- and industrial-grade coal through six operating subsidiaries (mining complexes) located throughout eastern Kentucky and in southern Indiana.