Puts Purchased on China Mobile (CHL)

Shares of China Mobile Ltd CHL are higher on the session by 0.93%, currently trading at $49.73. The stock has been trading largely sideways for the past six months, finding resistance around $51 and support around $47.50. Options traders are buying some puts today. The September $45.00 put was purchased 1,050 times, near the offer, earlier in the session; open interest on the strike is 7,891 contracts. Put volume is now running at 3x the daily average. China Mobile Limited provides a range of mobile telecommunications services in all 31 provinces, autonomous regions and directly administered municipalities in Mainland China, as well as in the Hong Kong Special Administrative Region of the People's Republic of China.