Put Volume Grows on Vornado Realty Trust (VNO)

Shares of Vornado Realty Trust VNO are higher on the session by 0.78%, currently trading at $77.54. The stock has been moving lower for the past eight weeks and is in a bearish-trending channel pattern. Options traders are betting on further downside in the name and are buying puts. Volume has been in small lots for most of the session, though the July $70 and $65 puts did see some larger volume with 3,090 and 1,567 contracts trading on those strikes, respectively. Put volume is now running at 3x the daily average. Vornado Realty Trust is an integrated real estate investment trust (REIT). The Company conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P., a limited partnership. Vornado is the sole general partner of, and owned approximately 92.5% of the common limited partnership interest in, the Operating Partnership at December 31, 2009.