Puts Volume Grows in Sterlite (SLT)

Shares of Sterlite Industries SLT are selling off by 2.61% today, currently trading $14.90. The stock has recently traded below the 50-day and 200-day moving averages, which is a bearish sign. The put/call ratio is running at 576x the norm today with the June $15 put purchased over 2,000 times and the September $12.50 put purchased 1,000 times. It appears that traders are betting on further downside in the name. Sterlite Industries Limited is a non-ferrous metals and mining company.