Puts Purchased on HealthSpring (HS)

Shares of HealthSpring Inc. HS are higher on the session by 2.51%, currently trading $17.56. The stock has been drifting lower over the past three months and has breeched the 50-day moving average. It has held the 200-day, though. I am detecting put buying in the name today with the September $12.50 put purchased 3,211 times today. There was no open interest on the strike. Put volume is now running at 35.70x the daily average with 100% of all puts traded being purchases on the offer. HealthSpring, Inc. is a managed care organization with a primary focus on Medicare, the federal government-sponsored health insurance program for United States citizens aged 65 and older, qualifying disabled persons and persons suffering from end-stage renal disease.