Puts Purchased on Chicago Bridge & Iron (CBI)

Shares of Chicago Bridge & Iron Co. CBI are lower on the session by 0.25%, currently trading at $21.34. The stock has been moving largely higher over the past two months and is now trading above the 50-day and 200-day moving averages. Options traders are buying protection on the name today. The August $17.50 put was purchased 1,300 times, on the offer, for $0.13 earlier in the session. Open interest on the strike is 1,552 contracts. Put volume is now running at 7.22x the daily average. Chicago Bridge & Iron N.V. is an engineering, procurement and construction company and process technology licensors, delivering solutions to customers in the energy and natural resource industries.