Puts Purchased on Avis Budget Group, Inc.

Shares of Avis Budget Group, Inc. CAR are higher on the session by 1.05%, currently trading at $16.90. The stock has been moving largely higher over the past five months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $15.00 put was purchased 1,000 times, on the offer, on open interest of 268 contracts. Overall put volume is now running at 2.48x the daily average with 81% of all puts traded being purchases on the offer. Avis Budget Group, Inc. provides car and truck rentals and ancillary services to businesses and consumers in the United States and internationally. The company operates two brands in the global vehicle rental industry, through Avis and Budget.