Notable Put Options Activity in AK Steel

Shares of AK Steel

are lower on the session by 2.32%, currently trading at $7.15. The stock has been moving largely lower over the past two months 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 April 2012 $6.00 put, which has traded 7,600 times on open interest of 518 contracts. The Apr2012 $8.00 and $7.00 puts are also active. Put volume is outpacing call volume by 7.5 to 1. AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary, AK Steel Corporation.