Puts Purchased on Herley Industries (HRLY)

Shares of Herley Industries HRLY are higher on the session by 0.16%, currently trading at $19.00. The stock has been moving largely higher over the past six months and is currently consolidating above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the May 2011 $17.50 put was purchased 460 times, on the offer, on open interest of only 38 contracts. The $17.50 strike was active in April and August as well. Overall put volume is now running at 356.33x the daily average with 89% of all puts traded being purchases on the offer. Herley Industries, Inc. is a supplier of microwave technologies for use in command and control systems, flight instrumentation, weapons sensors, radar, communication systems and electronic warfare systems. Herley's facilities include Herley Lancaster, Herley New England, Herley Israel, Microsystems, Inc. (MSI), Herley-CTI, Herley GMIC Eyal (Eyal) and EW Simulation Technology (EWST).