Puts Purchased on International Flavors & Fragrances

Shares of International Flavors & Fragrances IFF are higher on the session by 6.61%, currently trading at $56.31. 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 August 2011 $65.00 put traded 2,000 times on open interest of 2,157 contracts. Overall put volume is now running at 12.88x the daily average with 72% of all puts traded being purchases on the offer. International Flavors & Fragrances Inc. is a creator and manufacturer of flavor and fragrance products used by other manufacturers to impart or improve flavor or fragrance in a range of consumer products.