Puts Purchased on Reynolds American Inc.

Shares of Reynolds American Inc. RAI are higher on the session by 0.30%, currently trading at $37.17. 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 $35.00 put was purchased 3,200 times, on the offer, on open interest of 163 contracts. Overall put volume is now running at 7.35x the daily average with 99% of all puts traded being purchases on the offer. Reynolds American Inc. is a holding company. The company's operating subsidiaries include cigarette manufacturer in the United States, R. J. Reynolds Tobacco Company, and the smokeless tobacco products manufacturer in the United States, American Snuff Company, LLC.