Protection Purchased on KLA-Tencor (KLAC)

Shares of KLA-Tencor Corp. KLAC are lower on the session by 2.85%, currently trading at $30.03. The stock has been gyrating lower over the past two months and is now in a technical downtrend; the stock is currently trading at the technical sell point. Options traders are buying puts on the name today. The July $30 put was purchased 1,000 times, on the offer; open interest on the strike is 781 contracts, signaling new, bearish positioning. Put volume is now running at 2.05x the daily average. KLA-Tencor Corporation is a supplier of process control and yield-management solutions for the semiconductor and related nanoelectronics industries. Its products are also used in a number of other industries, including light emitting diode and data storage manufacturing, data storage, solar process development and control, and general materials research.