Downside Purchased on Illumina (ILMN)

Shares of Illumina, Inc. ILMN are lower on the session by 1.60%, currently trading at $44.29. The stock has been moving largely higher over the past five months, though has come under selling pressure as of late. Options traders are bracing for further declines today. The September $44.00 put was purchased 1,000 times, on the offer, on open interest of 158 contracts and the October $44.00 put was purchased 573 times on open interest of 122 contracts. Put volume is now running at 11.40x the daily average. Illumina, Inc. is a developer, manufacturer, and marketer of integrated systems for the analysis of genetic variation and biological function. The company provides a line of products and services that serve the sequencing, genotyping, and gene expression markets. Its customers include genomic research centers, pharmaceutical companies, academic institutions, clinical research organizations, and biotechnology companies. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.