Puts Purchased on TCF Financial Corporation (TCB)
Shares of TCF Financial Corporation (NYSE: 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.
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