Puts Sold on Focus Media Holding (FMCN)

Shares of Focus Media Holding Limited

are higher on the session by 2.14%, currently trading at $18.12. The stock has been moving largely higher over the past six months and is nearing its 52–week high. Options traders are selling puts on the name today. The October $16 put was sold 1,600 times earlier in the session; open interest on the strike is 1,747 contracts, signaling that a long put position was likely sold. Put volume is now running at 2.67x the daily average. Focus Media Holding Limited is multi-platform digital media company. The networks operated by the company include liquid crystal display display network, poster frame network, in-store network, Internet advertising services network, billboard network and movie theater advertising network.