Puts Purchased as Mohawk Rises

Shares of Mohawk Industries MHK are higher on the session by 2.77% to $62.68, but investors are buying puts along the way as protection. The May $60 put traded over 1,200 times and the August $60 put traded over 5,500 times. Put volume in Mohawk Industries is running at 3.65x the daily average with 97% of all puts traded being purchases on the offer, signaling bearishness. Mohawk recently tested, held, and bounced off the 50-day moving average.