Puts Purchased on Frontier Communications Corporation (FTR)

Shares of Frontier Communications Corporation FTR are higher on the session by 0.12%, currently trading at $8.07. The stock has been moving largely lower over the past three months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $7.00 put was purchased 5,300 times, on the offer, on open interest of 19,133 contracts. Overall put volume is now running at 2.85x the daily average with 87% of all puts traded being purchases on the offer. Frontier Communications Corporation is a communications company providing services predominantly to rural areas and small and medium-sized towns and cities. The company offers a variety of voice, data, Internet, and television services and products, some that are available a la carte, and others that are available as bundled or packaged solutions.