Puts Purchased on International Game Technology

Shares of International Game Technology IGT are higher on the session by 0.18%, currently trading at $16.60. The stock has been moving largely lower over the past three weeks and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the July 2011 $16.00 put was purchased 1,200 times, on the offer, on open interest of 1,048 contracts. Overall put volume is now running at 4.28x the daily average with 96% of all puts traded being purchases on the offer. International Game Technology is a global gaming company specializing in the design, manufacture, and marketing of electronic gaming equipment and systems.