Notable Put Options Activity in Covidien

Shares of Covidien COV are higher on the session by 0.21%, currently trading at $52.06. The stock has been moving largely higher over the past six 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 March 2012 $52.50 put, which has traded 1,000 times on open interest of 592 contracts. Put volume is outpacing call volume by 5 to 1. Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings.