Puts Purchased on NII Holdings, Inc. (NIHD)

Shares of NII Holdings, Inc. NIHD are higher on the session by 3.38%, currently trading at $40.68. The stock has been moving largely lower over the past four 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 April 2011 $39.00 put was purchased 1,500 times, on the offer, on open interest of 105 contracts. Overall put volume is now running at 3.23x the daily average with 74% of all puts traded being purchases on the offer. NII Holdings, Inc. provides wireless communication services under the Nextel brand through operating companies located in selected Latin American markets, with its principal operations located in Mexico, Brazil, Argentina, Peru and Chile.