Notable Put Options Activity in Lorillard

Shares of Lorillard LO are higher on the session by 1.69%, currently trading at $111.97. The stock has been moving largely higher over the past three weeks and is currently trading above the 50-day moving average. Options traders are focusing on puts today. A short while ago the September 2011 $100 put traded 2,000 times on open interest of 4,410 contracts. The Sept2011 $95 put also traded 4,200 time on 5,010 contracts. This could be a 1x2 put spread. Put volume is outpacing call volume 14 to 1. Lorillard, Inc. is the manufacturer of cigarettes in the United States. Its Newport is a menthol flavored premium cigarette brand.