Puts Purchased on Computer Science Corp

Shares of Computer Science Corp. CSC are falling today by 0.65%, currently $49.41. The stock has been falling as of late and is now trading below both the 50-day and 200-day moving averages. I am seeing puts purchased in the name today as well with the September $42.50 put purchased nearly 2,300 times. Open interest on the strike was only 700 contracts, which suggests new, bearish positioning. Computer Sciences Corporation is engaged in information technology (IT) and professional services industry. CSC offers an array of services to clients in the commercial and government markets and specializes in the application of complex IT.