Notable Put Options Activity in Southwest Airlines

Shares of Southwest Airlines

are lower on the session by 1.30%, currently trading at $8.33. The stock has been moving largely higher over the past two weeks and is currently trading below the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the December 2011 $8.00 put, which has traded 1,400 times on open interest of 1,383 contracts. Put volume is outpacing call volume by 13 to 1. Southwest Airlines Co. is a passenger airline that provides scheduled air transportation in the United States. As of December 31, 2010, the company had 548 Boeing 737 aircraft serving 69 cities in 35 states throughout the United States.