Puts Purchased on Cameco Corporation (CCJ)

Shares of Cameco Corporation CCJ are lower on the session by 5.25%, currently trading at $37.88. The stock has been moving largely higher over the past six months and it 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 February 2011 $36.00 put was purchased 2,200 times, on the offer, on open interest of only 383 contracts. This signals new positioning on the name. Overall put volume is now running at 3.46x the daily average with 94% of all puts traded being purchases on the offer. Cameco Corporation is a Canada-based company. The company and its subsidiaries are primarily engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.