Puts Purchased on Louisiana-Pacific Corporation (LPX)

Shares of Louisiana-Pacific Corporation LPX are higher on the session by 0.73%, currently trading at $10.37. The stock has been moving largely higher over the past six months and 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 May 2011 $10.00 put was purchased 2,500 times, on the offer, on open interest of 5,192 contracts. Overall put volume is now running at 6.23x the daily average with 79% 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.