Puts Purchased on Hormel Foods

Shares of Hormel Foods Corporation HRL are higher on the session by 0.58%, currently trading at $30.23. The stock has been moving largely higher over the past five months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $30.00 put traded 1,500 times on open interest of 2,118 contracts. Overall put volume is now running at 15.32x the daily average with 96% of all puts traded being purchases on the offer. Hormel Foods Corporation is engaged in the production of a range of meat and food products and the marketing of those products throughout the United States and internationally.