Protection Purchased on Dana Holding Corp. (DAN)

Shares of Dana Holding Corp. DAN are higher on the session by 2.74%, currently trading at $9.75. The stock has been trading lower over the past three months and is now testing the 200-day moving average. Options traders are buying a bit of protection today. The July $10.00 put was purchased 1,050 times, for $0.59, a short while ago. Open interest on the strike is only 176 contracts, signaling new, bearish positioning. Put volume is now running at 6.77x the daily average. Dana Holding Corporation is a supplier of axle, driveshaft, structural, sealing and thermal management products for global vehicle manufacturers. It designs and manufactures products for every vehicle producer in the world. The company serves three primary markets: Light vehicle market, Medium/heavy market and Off-Highway market.