Protection Purchased on Energy Transfer Partners (ETP)

Shares of Energy Transfer Partners LP

are lower on the session by 1.85%, currently trading at $49.89. The stock has been moving largely higher over the past two months, breaking to fresh 52-week highs yesterday. Options traders are buying protection on the name today, though. The September $45.00 put was purchased 1,000 times, on the offer, on open interest of just 701 contracts. This signals new, bearish positioning on the name. Put volume is now running at 4.17x the daily average. Energy Transfer Partners, L.P. is a limited partnership based in the United States engaged in natural gas operations. The company is managed by the general partner, Energy Transfer Partners GP, L.P., which in turn is managed by its general partner, Energy Transfer Partners, L.L.C.