Puts Purchased on Davita (DVA)

Shares of Davita Inc. DVA are higher on the session by 2.03%, currently trading $64.28. The stock has been a relative outperformer over the past month and has managed to hold onto the 50-day moving average, which is a bullish sign. Puts are being purchased on the name though, betting that the stock may break lower. The July $60 put was purchased nearly 2,400 times today; open interest on the strike is 745 contracts, indicating new, bearish positioning. Put volume is now running at 31.67x the daily average. DaVita Inc. is a provider of dialysis services in the United States for patients suffering from chronic kidney failure, also known as end stage renal disease (ESRD). As of December 31, 2009, the Company operated or provided administrative services to 1,530 outpatient dialysis centers located in 43 states.