Puts Purchased on KKR Financial Holdings

Shares of KKR Financial Holdings KFN are lower on the session by 1.83%, currently trading at $9.65. The stock has been moving largely higher over the past six months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the July 2011 $9.00 put was purchased 1,600 times, on the offer, on open interest of 4,423 contracts. Overall put volume is now running at 10.41x the daily average with 92% of all puts traded being purchases on the offer. KKR Financial Holdings LLC is a specialty finance company with focus in a range of asset classes. The company invests in financial assets consisting primarily of below investment grade corporate debt, including senior secured and unsecured loans, mezzanine loans, high yield corporate bonds, distressed and stressed debt securities, marketable and non-marketable equity securities and credit default and total rate of return swaps.