Puts Purchased on Boise Inc. (BZ)

Shares of Boise Inc. BZ are lower on the session by 1.31%, currently trading at $6.77. The stock has been moving largely higher over the past four months and is trending higher above the 50-day and 200-day moving averages. First resistance is at $7.47 Options traders are buying puts on BZ today. A short while ago the June 2011 $6.00 put was purchased 2,000 times, on the offer, on no prior open interest. This signals new positioning on the name. Overall put volume is now running at 18.24x the daily average, 99% on the offer. Boise Inc. is a manufacturer of packaging products and papers, including corrugated containers, containerboard, label and release and flexible packaging papers, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp.