Puts Purchased on First Horizon National Corporation

Shares of First Horizon National Corporation FHN are higher on the session by 0.50%, currently trading at $10.11. The stock has been moving largely lower over the past five months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. A short while ago the June 2011 $11.00 put was purchased 1,400 times, on the offer, on open interest of 2,501 contracts. Overall put volume is now running at 3.99x the daily average with 96% of all puts traded being purchases on the offer. First Horizon National Corporation is a bank holding company. It provides financial services primarily through its principal subsidiary, First Tennessee Bank National Association, and its subsidiaries. It has four segments: regional banking, capital markets, corporate, and non-strategic.