Puts Purchased on Consolidated Edison

Shares of Consolidated Edison ED are higher on the session by 3.40%, currently trading at $53.84. The stock has been moving largely higher over the past few days and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the November 2011 $55.00 put traded 2,800 times on open interest of 535 contracts. Overall put volume is now running at 8.49x the daily average with 82% of all puts traded being purchases on the offer. Consolidated Edison, Inc. is a holding company of Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc. and the competitive energy businesses.