Notable Put Options Activity in Joy Global

Shares of Joy Global JOY are lower on the session by 0.72%, currently trading at $89.72. 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 December 2011 $87.50 put, which has traded 1,800 times on open interest of 495 contracts. Put volume is outpacing call volume by 4 to 1. Joy Global Inc. is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals, and ores. The company's equipment is used in mining regions throughout the world to mine coal, copper, iron ore, oil sands and other minerals.