Puts Purchased on Crown Holdings (CCK)

Shares of Crown Holdings CCK are higher on the session by 0.82%, currently trading at $38.34. The stock has been moving largely higher over the past six 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 May 2011 $36.00 put was purchased 3,400 times, on the offer, on open interest of only 23 contracts. Overall put volume is now running at 23.32x the daily average with 99% of all puts traded being purchases on the offer. Crown Holdings, Inc. is engaged in the design, manufacture and sale of packaging products for consumer goods. The company's business is organized geographically within three divisions: Americas, European and Asia-Pacific.