Puts Purchased on Leggett & Platt (LEG)

Shares of Leggett & Platt Inc. LEG are trading lower on the session, off by 3.66% at $22.62. The stock has been a relative outperformer lately, but is now in jeopardy of breaking down through the 50-day moving average. Puts are being purchased on the name today, betting that the stock breaks lower. The $17.50 strike put in December was purchased 1,000 times on the offer; there was no open interest on that strike. Put volume is now running at 2.53x the daily average. Leggett & Platt, Incorporated is an international manufacturer, which conceives designs and produces a range of engineered components and products found in many homes, offices, retail stores and automobiles.