Puts purchased on Mellanox (MLNX)

Shares of Mellanoox Technologies LTD MLNX are trading higher today by 0.27%, currently at $22.36. The stock has been a relative outperformer, but as of late has been selling off. Still, the stock remains just below the 50-day moving average. I am detecting put buying in the name today. The June $17.50 put was purchase over 2,250 times today on open interest of 2,397. Put volume is now running at 4.74x the daily average with over 85% of all put traded being purchases on the offer. This signals a growing bearish tone. Mellanox Technologies, Ltd. is a supplier of semiconductor-based, high-performance connectivity products that facilitate data transmission between servers, communications infrastructure equipment and storage systems.