Puts Purchased on Solutia

Shares of Solutia SOA are lower on the session by 2.65%, currently trading at $22.00. The stock has been moving largely lower over the past three 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 $20.00 put traded 4,200 times on open interest of 2,434 contracts. Overall put volume is now running at 10.03x the daily average with 92% of all puts traded being purchases on the offer. Solutia Inc. is a global manufacturer of performance materials and specialty chemicals used in a range of consumer and industrial applications, including interlayers and aftermarket film for automotive and architectural glass; chemicals that promote safety and durability in tires, and encapsulants, coatings and specialty chemicals used in a variety of electronic, industrial and energy solutions.