Puts Purchased on Manulife Financial

Shares of Manulife Financial MFC are lower on the session by 0.36%, currently trading at $16.84. The stock has been moving largely lower over the past five months and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $17.00 put traded 1,500 times on open interest of 63 contracts. Overall put volume is now running at 13.23x the daily average with 77% of all puts traded being purchases on the offer. Manulife Financial Corporation is a life insurance and a holding company of The Manufacturers Life Insurance Company and John Hancock Reassurance Company, Ltd. MFC is a financial services company serving customers in 22 countries around the world.