Puts Purchased on Starwood Hotels & Resorts Worldwide (HOT)

Shares of Starwood Hotels & Resorts Worldwide HOT are lower on the session by 0.24%, currently trading at $62.69. The stock has been moving largely higher 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 March 2011 $57.50 put was purchased 2,000 times, on the offer, on open interest of only 613 contracts. This signals new positioning on the name. Overall put volume is now running at 2.06x the daily average with 79% of all puts traded being purchases on the offer. Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company. The company conducts its hotel and leisure business both directly and through its subsidiaries.