Puts Purchased on Silicon Laboratories

Shares of Silicon Laboratories SLAB are higher on the session by 0.62%, currently trading at $40.78. The stock has been moving largely lower over the past six 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 August 2011 $40.00 put traded 2,400 times on open interest of 296 contracts. Overall put volume is now running at 8.09x the daily average with 91% of all puts traded being purchases on the offer. Silicon Laboratories Inc. designs and develops analog-intensive, mixed-signal integrated circuits for a range of applications. Its mixed-signal ICs are electronic components that convert analog signals, such as sound and radio waves, into digital signals that electronic products can process.