Traders Quite Bearish on Lender Processing Services (LPS)

Shares of Lender Processing Services, Inc. LPS are lower on the session by 0.95%, currently trading at $33.12. The stock has been moving largely lower over the past six months, though has seen some call buying as of late. The stock is now struggling with the 50-day moving average. Options traders are buying protection on the name today. A short while ago the March 2011 $30.00 put was purchased 4,700 times, on the offer, on open interest of only 38 contracts. Put volume is now running at 70.5x the daily average, 100% purchases on the offer. Lender Processing Services, Inc. is a provider of integrated technology and services to the mortgage lending industry, with mortgage processing and management services in the United States. The company operates in two segments: technology, data and analytics and loan transaction services, which produced approximately 30% and 70%, respectively, of the company's revenues during the year ended December 31, 2009. A number of financial institutions use LPS's solutions. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.