Puts Purchased on Hormel Foods Corporation

Shares of Hormel Foods Corporation

are lower on the session by 1.32%, currently trading at $29.89. The stock has been moving largely higher over the past six 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 put traded 2,600 times on open interest of 3,607 contracts. Overall put volume is now running at 15.73x the daily average with 95% 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.