Puts Purchased on International Flavors & Fragrances (IFF)

Shares of International Flavors & Fragrances IFF are lower on the session by 4.29%, currently trading at $55.94. 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 February 2011 $55.00 put was purchased 890 times, on the offer, on open interest of 2,336 contracts. Overall put volume is now running at 7.59x the daily average with 92% of all puts traded being purchases on the offer. International Flavors & Fragrances Inc. is a creator and manufacturer of flavor and fragrance products used by other manufacturers to impart or improve flavor or fragrance in a range of consumer products.