Puts Purchased on Boyd Gaming

Shares of Boyd Gaming BYD are lower on the session by 1.44%, currently trading at $8.87. 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 $9.00 put traded 4,000 times on open interest of 12,213 contracts. Overall put volume is now running at 6.49x the daily average with 89% of all puts traded being purchases on the offer. Boyd Gaming Corporation is a multi-jurisdictional gaming company. Boyd Gaming is a diversified operator of 15 wholly owned gaming entertainment properties and one controlling interest in a limited liability company that operates Borgata Hotel Casino and Spa in Atlantic City, New Jersey.