Puts Purchased on The Bank of New York Mellon

Shares of The Bank of New York Mellon BK are higher on the session by 1.26%, currently trading at $24.95. 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 September 2011 $23.00 put was purchased 2,300 times, on the offer, on open interest of 412 contracts. Overall put volume is now running at 2.87x the daily average with 68% of all puts traded being purchases on the offer. The Bank of New York Mellon Corporation is a global financial services company. As of December 31, 2010, the company's two principal banks were The Bank of New York Mellon, which houses its institutional businesses, including asset servicing, issuer services, treasury services, broker-dealer and advisor services and the bank-advised business of asset management, and BNY Mellon, National Association, which houses its wealth management business.