Shares of Fortune Brands, Inc. FO are higher on the session by 1.25%, currently trading at $60.25. The stock has been moving largely higher over the past six months and is currently consolidating around the 50-day moving averages.
Options traders are buying puts on the name today. A short while ago the June 2011 $50.00 put was purchased 7,200 times, on the offer, on open interest of only 166 contracts. This signals new positioning on the name.
Overall put volume is now running at 12.01x the daily average with 99% of all puts traded being purchases on the offer.
Fortune Brands, Inc. is a holding company with operating companies engaged in the manufacture and sale products, such as distilled spirits, home and security products, and golf products. Fortune Brands operates in three segments: Spirits, Home & Security and Golf.
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