Puts Purchased on Red Hat, Inc. (RHT)

Shares of Red Hat, Inc. RHT are higher on the session by 1.19%, currently trading at $40.83. The stock has been moving largely lower over the past three 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 March 2011 $40.00 put was purchased 3,000 times, on the offer, on open interest of 1,102 contracts.

Overall put volume is now running at 6.03x the daily average with 99% of all puts traded being purchases on the offer.

Red Hat, Inc. is engaged in providing open source software solutions to the enterprise, including its core enterprise operating system platform, Red Hat Enterprise Linux, its enterprise middleware platform, JBoss Enterprise Middleware, its virtualization solutions and other Red Hat enterprise technologies.