Puts Purchased on SAP AG

Shares of SAP AG SAP are lower on the session by 1.00%, currently trading at $60.22. 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 August 2011 $60.00 put traded 1,700 times on open interest of 1,119 contracts. Overall put volume is now running at 2.70x the daily average with 85% of all puts traded being purchases on the offer. SAP AG is engaged in enterprise applications in terms of software and software-related service revenue. The company's core business is selling licenses for software solutions and related services to deliver a range of choices fitting the varying functional needs of its customers.