Puts Purchased on Avis Budget Group

Shares of Avis Budget Group CAR are lower on the session by 2.56%, currently trading at $15.60. 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 $15.00 put traded 2,100 times on open interest of 2,624 contracts. Overall put volume is now running at 12.44x the daily average with 100% of all puts traded being purchases on the offer. Avis Budget Group, Inc. operates in two brands in the global vehicle rental industry through Avis and Budget. Avis is a rental car supplier positioned to serve the commercial and leisure segments of the travel industry and Budget is a rental car supplier.