Protection Purchased on Colgate-Palmolive (CL)

Shares of Colgate-Palmolive Co. CL are lower on the session by 0.70%, currently trading at $82.72. The stock has been moving largely higher over the past eight weeks and is now trading above both the 50-day and 200-day moving average. Options traders are buying protection on the name today, though. The August $75.00 put was purchased 3,400 times, on the offer, earlier in the session; open interest on the strike is 3,966 contracts. Put volume is now running at 3.32x the daily average. Colgate-Palmolive Company is a consumer products company whose products are marketed in over 200 countries and territories worldwide. The company manages its business in two product segments: Oral, Personal, and Home Care and Pet Nutrition.