Puts Purchased on Manulife Financial

Shares of Manulife Financial MFC are higher on the session by 4.02%, currently trading at $13.71. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the September 2011 $15.00 put traded 2,100 times on open interest of 675 contracts. Overall put volume is now running at 5.81x the daily average with 70% of all puts traded being purchases on the offer. Manulife Financial Corporation is a life insurance and a holding company of The Manufacturers Life Insurance Company and John Hancock Reassurance Company, Ltd. MFC is a financial services company serving customers in 22 countries around the world.