Puts Purchased on Starwood Hotels & Resorts Worldwide

Shares of Starwood Hotels & Resorts Worldwide HOT are higher on the session by 0.83%, currently trading at $58.06. The stock has been moving largely sideways over the past four months and is currently consolidating above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $57.50 put was purchased 4,300 times, on the offer, on open interest of 697 contracts. Overall put volume is now running at 2.27x the daily average with 85% of all puts traded being purchases on the offer. Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company. The company conducts its hotel and leisure business both directly and through its subsidiaries.