Puts Purchased on Mohawk Industries, Inc. (MHK)

Shares of Mohawk Industries, Inc. MHK are higher on the session by 0.46%, currently trading at $59.56. The stock has been moving largely higher over the past five 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 $55.00 put was purchased 1,000 times, on the offer, for $0.85 on open interest of 727 contracts. Overall put volume is now running at 11.36x the daily average with 100% of all puts traded being purchases on the offer. Mohawk Industries, Inc., is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe. The company is a carpet and rug manufacturer, and manufactures, markets and distributes of ceramic tile, natural stone and hardwood flooring in the United States, as well as a producer of laminate flooring in the United States and Europe. The company operates in three segments: the Mohawk segment, the Dal-Tile segment and the Unilin segment.