Protection Purchased on VMWare (VMW)

Shares of VMWare Inc. VMW are lower on the session by 0.42%, currently trading $65.93. The stock has been dramatically outperforming the overall market and is trading well above the 50-day moving average, near a 52-week high. Protection is being purchased on the name today, though. A short while ago, the July $60 put was purchased on the offer 2,000 times; open interest on the strike is only 825 contracts, which signals new, bearish positioning. Put volume is now running at 2.05x the daily average with 73% of all puts traded being purchases on the offer. VMware, Inc.is a provider of virtualization solutions from the desktop to the data center. The Company's suite of virtualization solutions addresses a range of information technology (IT) problems that include cost and operational inefficiencies, business continuity, software lifecycle management and desktop management.