Puts Purchased on Campbell Soup Company (CPB)

Shares of Campbell Soup Company

are lower on the session by 0.80%, currently trading at $34.78. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $35.00 put was purchased 2,000 times, on the offer, for $0.70 on open interest of 511 contracts. Overall put volume is now running at 9.13x the daily average with 93% of all puts traded being purchases on the offer. Campbell Soup Company, together with its subsidiaries, is a manufacturer and marketer of convenience food products. The company operates in four segments: U.S. Soup, Sauces and Beverages; Baking and Snacking; International Soup, Sauces and Beverages, and North America Foodservice.