Puts Purchased on STEC, Inc. (STEC)
April 18, 2011 10:36 AM
Shares of STEC, Inc. (NASDAQ: STEC) are lower on the session by 4.67%, currently trading at $17.98. The stock has been moving largely lower over the past four months and is currently consolidating between the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the May $18.00 put was purchased 4,500 times, on the offer, on open interest of only 1,292 contracts. This signals new positioning on the name.
Overall put volume is now running at 5.95x the daily average with 84% of all puts traded being purchases on the offer.
STEC, Inc. is a global provider of enterprise-class Flash solid-state drives for enterprise-storage systems and servers that companies use to retain and access their critical data.
