Shares of Virgin Media VMED are lower on the session by 1.27%, currently trading at $24.88. The stock had been moving largely higher over the past six months, but recently came under selling pressure. It is currently trading below the 50-day moving average.
Options traders are buying puts on the name today. A short while ago the January 2012 $12.50 put was purchased 1,500 times, on the offer, for $0.35 on open interest of only 30 contracts. This signals new positioning on the name.
The Jan 2012 $10.00 put also traded 1,000 times on open interest of 12,784 contracts.
Overall put volume is now running at 4.11x the daily average with 87% of all puts traded being purchases on the offer.
Virgin Media Inc. is a provider of entertainment and communications services in the United Kingdom, offering quad-play broadband Internet, television, mobile telephony and fixed line telephony services.
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