Shares of ON Semiconductor Corporation ONNN are lower on the session by 0.39%, currently trading at $10.12. The stock has been moving largely lower over the past two months though it is currently trading above the 200-day moving average.
Options traders are buying puts on the name today. A short while ago the July 2011 $10.00 put was purchased 980 times, on the offer, on open interest of 1,945 contracts. The July $9 put also traded 980 times. This looks like a long put spread.
Overall put volume is now running at 14.09x the daily average with 100% of all puts traded being purchases on the offer.
ON Semiconductor Corporation is a supplier of silicon solutions for energy electronics. The company designs, manufactures and markets a portfolio of semiconductor components.
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