Puts Sold on Perfect World (PWRD)

Shares of Perfect World PWRD are higher on the session by 9.75%, currently trading at $24.65. The stock has been drifting lower and lower for the past nine months and is trading just off of a 52-week low. Options traders are favoring the put side today. The June $25 put was sold on the bid 1,300 times for $0.90 earlier in the session. Open interest on the strike is 1,977 contracts. Put volume is running at 2.06x the daily average. Perfect World Co., Ltd. is an online game developer and operator in the People's Republic of China (PRC). The Company primarily develops online games based on its game engines and game development platforms.