Huge Put Spread Purchased on Ecolab (ECL)

Shares of Ecolab Inc. ECL are higher on the session by 0.99%, currently trading at $51.24. The stock has been moving largely higher over the past three months and is currently trading above the 50-day and 200-day moving averages. Traders seem worried that shares could correct lower. A short while ago the May $50/45 put spread was purchased 19,000 times for $0.75. Volume exceeded open interest on both strikes Ecolab Inc. develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets. The company provides cleaning and sanitizing products and programs, as well as pest elimination, maintenance and repair services primarily to customers in the food and beverage processing, hospitality, healthcare, government and education, retail, textile care, commercial facilities management and vehicle wash sectors.