Shares of Atwood Oceanics (NYSE:

) are lower on the session by 3.92%, currently trading at $41.42. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. A short while ago the November 2011 $40.00 put traded 770 times on open interest of 1,107 contracts. Put volume is outpacing call volume today. Atwood Oceanics, Inc., along with its subsidiaries, is engaged in the international offshore drilling and completion of exploratory and developmental oil and gas wells.