Bears Banking on Credit Suisse Group AG

Shares of Credit Suisse Group AG CS are higher on the session by 0.34%, currently trading at $41.62. The stock has been moving largely lower over the past two 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 June 2011 $41.00 put was purchased 2,500 times, on the offer, for $1.00 on open interest of only 555 contracts. This signals new positioning on the name. Overall put volume is now running at 2.33x the daily average with 95% of all puts traded being purchases on the offer. Credit Suisse Group AG is a financial services company. It provides advisory services, solutions and products to companies, institutional clients and private clients globally, as well as to the retail clients in Switzerland.