Puts Purchased on Louisiana-Pacific Corporation (LPX)

Shares of Louisiana-Pacific Corporation LPX are lower on the session by 4.43%, currently trading at $8.84. The stock has been moving largely lower over the past three months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $9.00 put was purchased 5,200 times, on the offer, on open interest of only 2,671 contracts. Overall put volume is now running at 3.31x the daily average with 99% of all puts traded being purchases on the offer. Louisiana-Pacific Corporation is principally engaged in the manufacturing of building products. The company operates in three segments: Oriented Strand Board, Siding and Engineered Wood Products.