Protection Purchased on Scotts Miracle-Gro (SMG)

Shares of The Scotts Miracle-Gro Company SMG are higher on the session by 0.28%, currently trading at $50.85. The stock has been moving largely higher over the past six months and recently broke above the key resistance level of $50.00. Options traders are buying protection on the name today, though. Just a short while ago, the October $50.00 put was purchased 1,150 times, on the offer, for $1.30; open interest on the strike is 29 contracts. This signals new positioning on the strike. Put volume is now running at 17.40x the daily average, The Scotts Miracle-Gro Company, along with its subsidiaries, is engaged in the manufacturing, marketing and sale of lawn and garden care products. The company is a marketer of lawn fertilizer, grass seed and growing media products within the United States. During the fiscal year ended September 30, 2009 (fiscal 2009), the company operated in four segments: Global Consumer, Global Professional, Scotts LawnService, and Corporate and Other. 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.