Puts Purchased on TCF Financial Corporation

Shares of TCF Financial Corporation TCB are lower on the session by 0.82%, currently trading at $14.41. The stock has been moving largely lower over the past four 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 $14.00 put was purchased 2,000 times, on the offer, on open interest of 2,515 contracts. Overall put volume is now running at 4.44x the daily average with 97% of all puts traded being purchases on the offer. TCF Financial Corporation is a national bank holding company. The company's principal subsidiary is TCF National Bank. TCF Bank operates bank branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.