Puts Purchased on XL Capital

Shares of XL Capital LTD XL are lower on the session by 0.81%, currently off by $17.23. The stock has been gyrating wildly as of late with the stock struggling to find a trend above the 50-day moving average or below the 200-day moving average. Put activity is picking up in the name today with the June $17 put purchased over 2,600 times on open interest of 456 contracts and over 6,200 June $15 puts purchased on open interest of 447 contracts. These trades signal that bearishness in the name is growing rapidly. Put volume is running at 3.04x the daily average. XL Capital Ltd. through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis.