Puts Purchased on ICICI Bank Limited (IBN)

Shares of ICICI Bank Limited IBN are higher on the session by 2.09%, currently trading at $47.80. The stock has been moving largely lower over the past six months, but it is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the June 2011 $30.00 put was purchased 5,000 times, on the offer, for $0.10 on open interest of 5,035 contracts. This was likely a closing of short puts. Overall put volume is now running at 2.70x the daily average with 95% of all puts traded being purchases on the offer. ICICI Bank Limited is a banking company engaged in providing a range of banking and financial services, including commercial banking and treasury operations.