Notable Put Options Activity in Linn Energy

Shares of Linn Energy

are higher on the session by 0.66%, currently trading at $38.40. The stock has been moving largely higher over the past three weeks 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 $38.00 put, which has traded 844 times on open interest of 209 contracts. Put volume is outpacing call volume by 3 to 1. Linn Energy, LLC is an independent oil and natural gas company. As of December 31, 2010, its proved reserves were 2,597 billions of cubic feet equivalent, of which approximately 36% were oil, 48% were natural gas and 16% were natural gas liquids.