Put Volume Grows on BMC Software (BMC)

Shares of BMC Software Inc. BMC are lower on the session, currently trading at $36.76. The stock has been gyrating lower over the past eight weeks and is trading below both the 50-day and 200-day moving averages. Options traders are betting on a further decline in the name and are buying protection. Though action has been primarily in small lots, put volume is now running at 5x the daily average. Traders are focusing $35 strike in multiple months. BMC Software, Inc. is a software vendor. The Company provides systems management, service management and automation solutions primarily for large enterprises. Its portfolio of software solutions include mainframe, distributed and virtualized systems, applications, databases and information technology (IT) process management functions.