Puts Purchased on Fifth Third Bancorp

Shares of Fifth Third Bancorp FITB are lower on the session by 1.69%, currently trading at $12.78. The stock has been moving largely lower over the past four months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $12.00 put was purchased 3,000 times, on the offer, on open interest of 4,383 contracts. Overall put volume is now running at 2.64x the daily average with 81% of all puts traded being purchases on the offer. Fifth Third Bancorp is a diversified financial services company. The Bancorp operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.