Puts Purchased on USG Corporation (USG)

Shares of USG Corporation USG are higher on the session by 0.56%, currently trading at $16.12. The stock has been moving largely higher over the past six months and is currently consolidating around the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $15.00 put was purchased 2,500 times, on the offer, on open interest of 1,783 contracts. Overall put volume is now running at 2.85x the daily average with 97% of all puts traded being purchases on the offer. USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials, producing a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes.