Puts Purchased on Novell, Inc. (NOVL)

Shares of Novell, Inc. NOVL are lower on the session by 0.17%, currently trading at $5.98. The stock has been moving largely sideways over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the January 2013 $5.00 put was purchased 750 times, on the offer, on open interest of only 506 contracts. This signals new positioning on the name. Overall put volume is now running at 10.44x the daily average with 91% of all puts traded being purchases on the offer. Novell, Inc. develops, sells, and installs enterprise software that is positioned in the operating systems and infrastructure software layers of the information technology industry worldwide.The company also provides technical support, training, and professional services. It has strategic alliances with Microsoft, Accenture Ltd., ACS, Dell, HP, IBM, Intel Corporation, SAP, Atos Origin, Cap Gemini, Deloitte Touche Tohmatsu, Lenovo Group Limited, and Oracle Corporation.