Puts Purchased on YRCW

Shares of YRC Worldwide Inc. YRCW are falling heavily today, currently off by 8.48% at $0.3917. The company has been flirting with bankruptcy for the better part of six months now. Options traders are buying puts today on the $1 put strike in January 2011. The puts have been purchased 6,450 times on open interest of 30,982 contracts. The puts were bought for $0.65, which signals that traders believe the stock stays below $0.35. YRC Worldwide, through wholly owned operating subsidiaries offers its customers a range of transportation services. These services include global, national and regional transportation, as well as logistics.