Puts Purchased on TCF Financial Corporation

Shares of TCF Financial Corporation TCB are higher on the session by 0.29%, currently trading at $13.66. 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 October 2011 $12.00 put was purchased 1,800 times, on the offer, on open interest of 24 contracts. Overall put volume is now running at 2.18x the daily average with 89% 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.