Puts Purchased on Nabors Industries Ltd.

Shares of Nabors Industries Ltd. NBR are higher on the session by 1.12%, currently trading at $27.93. The stock has been moving largely higher over the past four months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the September 2011 $25.00 put was purchased 1,000 times, on the offer, on open interest of 3,752 contracts. Overall put volume is now running at 2.11x the daily average with 93% of all puts traded being purchases on the offer. Nabors Industries Ltd. is a land drilling contractor and a land well-servicing and workover contractor in the United States and Canada. Calls Purchased on BioDelivery Sciences International