Puts Purchased on Qiao Xing Universal Resources

Shares of Qiao Xing Universal Resources

are lower on the session by 2.66%, currently trading at $1.83. The stock has been moving largely lower over the past four months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the June 2011 $1.50 put was purchased 2,000 times, on the offer, on open interest of 0 contracts. Overall put volume is now running at 117.06x the daily average with 97% of all puts traded being purchases on the offer. Qiao Xing Universal Resources, Inc. is principally engaged the sale of telecommunication terminals and equipment, including cord and cordless telephone sets in the People's Republic of China.