Puts Purchased on Ebix

Shares of Ebix EBIX are lower on the session by 2.35%, currently trading at $16.65. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $21.00 put traded 1,000 times on open interest of 1,325 contracts. Overall put volume is now running at 3.11x the daily average with 85% of all puts traded being purchases on the offer. Ebix, Inc. is an international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a range of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries.