Puts Purchased on CNinsure Inc. (CISG)

Shares of CNinsure Inc. CISG are lower on the session by 2.88%, currently trading at $23.58. The stock has been moving largely higher over the past six months, but has come under selling pressure as of late. The stock is currently sitting right on the 200-day moving average. Options traders are buying puts on the name today. The September $20.00 put was purchased 4,000 times, on the offer, on open interest of 300 contracts. This signals new, bearish positioning on the name. Put volume is now running at 49.46x the daily average. CNinsure Inc. is an independent insurance intermediary company operating in China. The company had 48,693 sales professionals, 1,421 claims adjustors and 571 sales and service outlets operating in 23 provinces as of April 15, 2010. As an insurance intermediary company, it does not assume underwriting risks.