Notable Put Options Activity in Covidien

Shares of Covidien COV are higher on the session by 2.45%, currently trading at $49.30. 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 focusing on puts today. A short while ago the September 2011 $50.00 put traded 4,500 times on open interest of 4,844 contracts. Covidien Public Limited Company, formerly Covidien Ltd. is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings.