Lions Gate Falls Out of Bed; Puts Purchased (LGF)

Shares of Lions Gate Entertainment Corp. DDS are lower on the session by 4.76%, currently trading at $6.40. The stock had been trading relatively flat on the session as recently as 2:47 pm est., but has since slipped lower on high volume. Options traders are buying puts on the name today. A short while ago the January 2011 $7.50 put was purchased 5,000 times, on the offer, for $1.00 on open interest of 20,534 contracts. Overall put volume is now running at 250.20x the daily average with 100% of all puts traded being purchases on the offer. Lions Gate Entertainment Corp. is the studio with a diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content.