Puts Purchased on MetroPCS Communications

Shares of MetroPCS Communications PCS are lower on the session by 1.04%, currently trading at $16.11. The stock has been moving largely lower over the past two 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 $14.00 put traded 2,200 times on open interest of 2,693 contracts. Overall put volume is now running at 11.44x the daily average with 74% of all puts traded being purchases on the offer. MetroPCS Communications, Inc. is a wireless telecommunications provider in the United States measured by the number of subscribers served.