Puts Purchased on Old Republic International (ORI)

Shares of Old Republic International Corporation ORI are lower on the session by 0.31%, currently trading at $12.91. The stock has been moving largely higher over the past four months after bouncing off of the 200-day moving average. Shares are testing the 200-day once again. Options traders are buying puts on the name today. A short while ago the April 2011 $10.00 put was purchased 1,000 times, on the offer, on open interest of only 25 contracts. This signals new positioning on the name. Overall put volume is now running at 7.11x the daily average with 91% of all puts traded being purchases on the offer. Old Republic International Corporation is a holding company engaged in the business of insurance underwriting. The company conducts its operations, through number of regulated insurance company subsidiaries organized into three segments: General, Mortgage Guaranty, and Title Insurance Groups.