Puts Purchased on Virgin Media (VMED)

Shares of Virgin Media Inc. VMED are lower on the session by 1.52%, currently trading at $21.31. The stock has been trading largely higher over the past six months and is trading just off of fresh 52-week highs set on Monday. Options traders are bracing for a further pullback by buying puts today. The January 2012 $10.00 put was purchased, on the offer, 11,000 times; open interest on the strike is 1,051 contracts. Put volume is now running at 8.04x the daily average. Virgin Media Inc. is a provider of entertainment and communications services in the United Kingdom, offering quad-play broadband Internet, television, mobile telephony and fixed line telephony services. In addition, Virgin Media provides a portfolio of voice, data and Internet solutions to businesses, public sector organizations and service providers in the United Kingdom, through Virgin Media Business.