Puts Purchased on Owens-Illinois (OI)

Shares of Owens-Illinois Inc. OI are lower on the session by 1.35%, currently trading at $29.90. The stock has been moving largely lower over the past three months and is currently in a technical downtrend. Options traders are buying puts today. The July $30 put was purchased 1,000 times, on the offer on open interest of just 420 contracts. This signals new, bearish positioning on the name going into options expiration. Put volume is now running at 4.89x the daily average. Owens-Illinois, Inc. is a global manufacturer of glass containers with 78 glass-manufacturing plants in 21 countries. It produces glass containers for beer, ready-to-drink low alcohol refreshers, spirits, wine, food, tea, juice and pharmaceuticals. The company also produces glass containers for soft drinks and other non-alcoholic beverages outside the United States.