Puts Purchased on Copart, Inc. (CPRT)

Shares of Copart, Inc. CPRT are higher on the session by 0.34%, currently trading at $41.33. 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 $40.00 put was purchased 2,500 times, on the offer, on open interest of 5,557 contracts. Overall put volume is now running at 4.70x the daily average with 75% of all puts traded being purchases on the offer. Copart, Inc. is a provider of online auctions and vehicle remarketing services in the United States, Canada and the United Kingdom. It provides vehicle sellers with a range of services to process and sell vehicles over the Internet through its Virtual Bidding Second Generation Internet auction-style sales technology, which it refers to as VB2.