Puts Purchased on KKR Financial (KFN)

Shares of KKR Financial Holdings LLC KFN are currently trading lower by 2.41%, currently trading at $7.70. The stock has been moving largely sideways for the past four months, though has come under selling pressure as of late. It is now trading below the 50-day moving average. Options traders are buying protection on the name today. The September $8.00 put was just purchased 1,000 times, on the offer, for $0.50. Open interest on the strike is only 233 contracts, signaling fresh positioning. Put volume is now running at 4.55x the daily average. KKR Financial Holdings LLC is a specialty finance company with focus in a range of asset classes. The company invests in financial assets consisting primarily of below investment grade corporate debt, including senior secured and unsecured loans, mezzanine loans, high yield corporate bonds, distressed and stressed debt securities, marketable and non-marketable equity securities and credit default and total rate of return swaps.