Puts Purchased on Western Refining, Inc.

Shares of Western Refining, Inc. WNR are lower on the session by 4.54%, currently trading at $16.60. The stock has been moving largely higher over the past six months and is currently trading above the 200-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $17.00 put was purchased 3,000 times, on the offer, on open interest of 238 contracts. Overall put volume is now running at 3.04x the daily average with 98% of all puts traded being purchases on the offer. Western Refining, Inc. an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores.