Puts Purchased on Signet Jewelers Limited (SIG)

Shares of Signet Jewelers Limited SIG are lower on the session by 0.27%, currently trading at $44.68. The stock has been moving largely higher over the past six months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the April 2011 $45.00 put was purchased 1,000 times, on the offer, on open interest of 2,576 contracts. Overall put volume is now running at 6.25x the daily average with 81% of all puts traded being purchases on the offer. Signet Jewelers Limited, formerly Signet Group plc is a specialty retail jeweler by sales, with stores in the United States, United Kingdom, Republic of Ireland and Channel Islands. Signet's United States division operated 1,361 stores in 50 states at January 30, 2010.