Puts Purchased on TCF Financial Corporation (TCB)

Shares of TCF Financial Corporation TCB are lower on the session by 1.10%, currently trading at $15.26. The stock had been moving largely higher over the past five months and is currently consolidating around the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $15.00 put was purchased 625 times, on the offer, on open interest of 537 contracts. Overall put volume is now running at 4.44x the daily average with 95% of all puts traded being purchases on the offer. TCF Financial Corporation is a national bank holding company. The company's principal subsidiary is TCF National Bank. TCF Bank operates bank branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.