Notable Put Options Activity in Microchip Technology

Shares of Microchip Technology MCHP are lower on the session by 0.35%, currently trading at $17.21. The stock has been moving largely higher over the past three weeks and is currently trading above the 50-day moving average. Options traders are focusing on puts today. A short while ago the October 2011 $35.00 put traded 1,700 times on open interest of 463 contracts. Put volume is outpacing call volume 2 to 1. Microchip Technology Incorporated develops and manufactures semiconductor products used by its customers for a range of embedded control applications.