Puts Purchased on Johnson Controls (JCI)

Shares of Johnson Controls Inc. JCI are lower on the session by 2.01%, currently trading at $26.33. The stock has been moving largely lower over the past five months, off from recent highs near $35.00. The stock’s slide has accelerated as of late. Options traders are buying protection on the name today. The April 2011 $26.00 put was purchased 1,500 times, on the offer, a short while ago; there was no open interest on the strike. There has also been small lot put buying in multiple months today. Put volume is now running at 2.5x the daily average. Johnson Controls, Inc. provides automotive interiors. The company provides batteries for automobiles and hybrid electric vehicles, along with related systems engineering, marketing and service expertise. The company operates in three primary businesses: building efficiency, automotive experience and power solutions.