Puts Purchased on CVR Energy, Inc. (CVI)

Shares of CVR Energy, Inc. CVI are higher on the session by 7.72%, currently trading at $19.81. The stock has been moving largely higher over the past six months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the June 2011 $17.50 put was purchased 1,000 times, on the offer, on open interest of 1,081 contracts. The May $20.00 put also trade 1,000 times on open interest of 2,720 contracts. Overall put volume is now running at 4.48x the daily average with 60% of all puts traded being purchases on the offer. CVR Energy, Inc. is an independent petroleum refiner and marketer of transportation fuels. In addition, the company owns all of the interests in CVR Partners, LP, a limited partnership which produces nitrogen fertilizers in the form of ammonia, and a solution of urea and ammonium nitrate in water used as a fertilizer.