Notable Put Options Activity in Red Hat

Shares of Red Hat (NYSE:

) are lower on the session by 0.72%, currently trading at $49.65. 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. The strike seeing the heaviest action is the March 2012 $48.00 put, which has traded 520 times on open interest of 6,224 contracts. The Mar2012 $45.00 put also traded 500 times on 8,873 contracts. Put volume is outpacing call volume by 4 to 1. Red Hat, Inc. is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.