Puts Purchased on Tyco Electronics (TEL)

Shares of Tyco Electronics TEL are higher on the session by 0.49%, currently trading at $35.13. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $30.00 put was purchased 1,325 times, on the offer, for $0.30 on open interest of only 10 contracts. This signals new positioning on the name. Overall put volume is now running at 5.17x the daily average with 94% of all puts traded being purchases on the offer. Tyco Electronics Ltd. provides engineered electronic components, network solutions, specialty products, and undersea telecommunication systems. Tyco Electronics was founded in 1941 and is based in Schaffhausen, Switzerland.