Notable Put Options Activity in National Oilwell Varco

Shares of National Oilwell Varco

are lower on the session by 2.84%, currently trading at $66.99. The stock has been moving largely higher over the past three months, though it is currently testing the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the May 2012 $47.50 put, which has traded 8,800 times on open interest of 19,424 contracts. Put volume is outpacing call volume by 4 to 1. National Oilwell Varco, Inc. is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services and supply chain integration services to the upstream oil and gas industry.