Puts Purchased on Bucyrus International, Inc. (BUCY)
March 24, 2011 11:23 AM
Shares of Bucyrus International, Inc. (NASDAQ: BUCY) are higher on the session by 0.19%, currently trading at $91.24. The stock has been moving largely sideways over the past four months and is currently trading above the 50-day and 200-day moving averages (subject to buy-out offer).
Options traders are buying puts on the name today. A short while ago the April 2011 $90.00 put was purchased 1,000 times, on the offer, on open interest of 2,409 contracts.
Overall put volume is now running at 5.45x the daily average with 90% of all puts traded being purchases on the offer.
Bucyrus International, Inc. is a designer and manufacturer of safe and mining equipment for the extraction of coal, copper, oil sands, iron ore and other minerals in mining centers throughout the world. In addition to the manufacture of original equipment, Bucyrus also provides the aftermarket replacement parts and service for this equipment.
