Puts Purchased on Flextronics International (FLEX)

Shares of Flextronics International FLEX are lower on the session by 0.28%, currently trading at $7.00. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $7.00 put was purchased 2,000 times, on the offer, on open interest of 4,875 contracts. Overall put volume is now running at 2.63x the daily average with 89% of all puts traded being purchases on the offer. Flextronics International Ltd. is a provider of vertically-integrated advanced design and electronics manufacturing services to original equipment manufacturers. It provides these services to various markets, which include infrastructure, mobile communication devices, computing, consumer digital devices, industrial, semiconductor capital equipment, clean technology, aerospace and defense, and white goods, automotive and marine and medical devices.