Puts Purchased on Scripps Networks Interactive (SNI)

Shares of Scripps Networks Interactive Inc. SNI are higher on the session by 1.62%, currently trading at $42.68. The stock has been moving largely sideways for the past six months, though has held a longer-term uptrend. Options traders are buying puts on the name today, though this may be as a hedge to long shares or a closing transaction given the open interest of 2,600 contracts. The December $35.00 puts was just purchased 2,500 times, on the offer. Put volume is now running at 17.62x the daily average. Scripps Networks Interactive, Inc. is a lifestyle content and interactive services company with television and interactive brands. The company manages its operations through two operating segments: Lifestyle Media and Interactive Services.