Market Overview

Puts Purchased on Yongye International (YONG)

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Shares of Yongye International (NASDAQ: YONG) are lower on the session by 1.82%, currently trading at $8.14. The stock has been moving largely sideways over the past six months, though it is currently trading above the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 2.36x the daily average with 86% of all puts traded being purchases on the offer.

Traders are buying the $7.00 and $8.00 strikes in multiple months.

Yongye International, Inc., formerly Yongye Biotechnology International, Inc., incorporated on December 12, 2006, through its primary operating subsidiary, Yongye Nongfeng, is engaged in the manufacturing, research and development and sale of fulvic acid-based liquid and powder nutrient compounds used in the agriculture industry in the People's Republic of China.

Posted-In: Short Ideas Technicals Options Trading Ideas

 

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