Puts Purchased on ReneSola Ltd.

Shares of ReneSola Ltd. SOL are lower on the session by 6.18%, currently trading at $5.92. The stock has been moving largely lower over the past six months 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 $5.00 put was purchased 1,000 times, on the offer, on open interest of 3,563 contracts. Overall put volume is now running at 3.80x the daily average with 95% of all puts traded being purchases on the offer. ReneSola Ltd. is a manufacturer of solar wafers and producer of solar power products based in China. The company possess a global network of suppliers and customers that include some of the global manufacturers of solar cells and modules.