Notable Put Options Activity in Red Hat

Shares of Red Hat (NYSE: RHT) are higher on the session by 2.11%, currently trading at $49.93. 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 April 2012 $50.00 put, which has traded 456 times on open interest of 2 contracts.

Put volume is outpacing call volume by 5 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.