Strangle Purchased on Louisiana-Pacific Corporation (LPX)

Shares of Louisiana-Pacific Corporation LPX are lower on the session by 0.39%, currently trading at $10.02. The stock has been moving largely higher over the past six months and is currently consolidating around the 50-day moving average. One options trader purchased a strangle on the name today. A short while ago the April 2011 $11.00 call and $9.00 put were purchased 1,002 times, on the offer, for a net debit of $0.35. This may be a closing tansaction, as volume has not exceeded open interest. Overall put volume is now running at 13.96x the daily average with 72% of all puts traded being purchases on the offer. Louisiana-Pacific Corporation is principally engaged in the manufacturing of building products. The company operates in three segments: Oriented Strand Board, Siding and Engineered Wood Products. The OSB segment manufactures and distributes OSB structural panel products