Puts Purchased on Tupperware Brands (TUP)

Shares of Tupperware Brands TUP are lower on the session by 2.18%, currently trading at $45.86. The stock has been moving largely sideways over the past four months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the February 2011 $45.00 put was purchased 698 times, on the offer, on open interest of 1,249 contracts. Overall put volume is now running at 6.95x the daily average with 100% of all puts traded being purchases on the offer. Tupperware Brands Corporation is a global direct seller of products across multiple brands and categories through an independent sales force of 2.4 million.