Puts Purchased on Metalico

Shares of Metalico, Inc. MEA are lower on the session by 0.63%, currently trading at $5.85. The stock has been moving largely lower over the past five months and is currently consolidating above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $5.00 put traded 2,800 times on open interest of 2,458 contracts. Overall put volume is now running at 939.33x the daily average with 99% of all puts traded being purchases on the offer. Metalico, Inc. operates in two business segments: scrap metal recycling, and lead metal product fabricating.