Puts Purchased on China Unicom Limited

Shares of China Unicom Limited CHU are higher on the session by 2.28%, currently trading at $21.51. 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 June 2011 $21.00 put was purchased 1,500 times, on the offer, on open interest of 0 contracts. Overall put volume is now running at 3.19x the daily average with 100% of all puts traded being purchases on the offer. China Unicom Limited is an integrated telecommunications operator in China providing mobile voice and value-added, fixed-line voice and value-added, fixed-line broadband, data communications and other telecommunications services to its customers through two business segments comprised of mobile services and fixed-line services.